An additional signal favoring a rise in XAUUSD prices is a test of the support line on the relative strength indicator. A rebound from the lower border of the bullish channel is another positive sign. However, if prices fall below 2565 on October 15, 2024, it suggests a breakdown of the support area and a potential decline to below 2505.
Conversely, a breakout above 2665 indicates a breakdown of the upper border of the bearish correction channel, suggesting a potential acceleration in XAUUSD prices.
A bearish price correction might test the support area near 2620. If XAUUSD prices continue to rise, the target is above 2745. A fall below 2565, however, signals a continuation of the decline with a potential target below 2505.