A potential decrease in XAU/USD quotes could be signaled by a test of the resistance line on the relative strength index (RSI). Another indicator would be a breakout from the lower border of the reversal pattern. If prices instead rise sharply and break above 2365 on June 12, 2024, this would invalidate the bearish scenario, indicating a breakout of the resistance area and continued growth toward 2405.
Expect an acceleration in the decline of XAU/USD quotes if the support area is breached and prices close below 2255. This scenario assumes an initial price correction with a test of the resistance area around 2330, followed by continued decline targeting below 2215. Conversely, a strong increase in the asset’s value and a breakout above 2365 would cancel the bearish option, suggesting a continued rise in Gold prices with a potential target above 2405.