On 12-07-2024, watch for a potential rise in #XAUUSD quotes if there's a test of the support line on the RSI and a breakout from the lower border of the bullish channel. Should prices fall and break below 2365, this would negate the bullish scenario, indicating a breakdown of the support area and a further decline to below 2285.
If the resistance area is breached and prices close above 2445, expect accelerated growth in #XAUUSD. This outlook suggests a possible price correction with a support test near 2395, followed by a continued rise in non-ferrous metal quotes targeting above 2495. Conversely, a drop and breakdown below 2365 would confirm a continued decline in Gold prices, aiming for a target below 2285.