A potential drop in XAU/USD may be signaled by resistance testing on the RSI and a rebound from the lower boundary of a previously broken bullish channel. If XAU/USD prices sharply rise past 2735 on 12 Nov 2024, this could invalidate the downward trend and suggest continued growth toward 2785.
In contrast, a decisive break below 2635 would indicate a bearish momentum and further downward movement as the price exits the lower boundary of the bullish channel. A minor bullish correction could initially target resistance near 2715, but a continued decline could push prices below 2575.
To summarize, a breakout above 2735 may signify a reversal, while a close below 2635 strengthens the bearish forecast.