A bullish signal for XAU/USD is supported by a test of the upward trend line on the RSI indicator and a rebound from the lower boundary of the bullish channel. A potential price increase is expected if the resistance at 2975 is broken, with a target above 3005.
However, if the price drops below 2915, this will invalidate the bullish scenario, signaling further decline toward 2865.
A short-term correction may test support near 2925, but as long as prices remain above 2915, the upward trend remains intact.