An additional signal in favor of the rise in XAU/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel, which was broken up. Cancellation of the option to raise the price of Gold on November 15, 2022 will be a fall and a breakdown of the level of 1670. This will indicate a breakdown of the support area and a continuation of the fall to the area below the level of 1625. Expect an acceleration in the growth of XAU/USD quotes with a breakdown of the resistance area and closing the price above the level of 1805.
Suggests an attempt to develop a price correction and a test of the support area near the level of 1715. Further, the continued growth of non-ferrous metal quotes with a target above the level of 1845. Cancellation of the option of raising the price of Gold will be a fall in the value of the asset on the markets and a breakdown of the level of 1670. This will indicate a continued decline in the price of Gold with a potential target below the level of 1625.