An additional signal for the growth of #XAUUSD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a breakout from the lower boundary of the bullish channel. Cancellation of the option for gold price growth on July 18, 2024, will be a fall in prices and a breakdown of the level of 2375, indicating a breach of the support area and a continued decline in quotes to the level of 2315. Expect an acceleration in the growth of #XAUUSD quotes with a breakout of the resistance area and closing prices above the level of 2525, indicating a breach of the upper boundary of the bullish channel, which is a signal for growth by the width of the channel.
It assumes an attempt to develop a price correction and test the support area near the level of 2420. Further growth in non-ferrous metal quotes with a target above the level of 2565. The cancellation of the option for gold price growth will be a fall in the asset's value in the markets and a breakdown of the level of 2375. This will indicate a continued decline in the price of gold with a potential target below the level of 2315.