An additional signal in favor of falling #XAUUSD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to reduce the price of Gold on 19th October 2022 will be a strong growth and a breakdown of the level of 1690. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 1755. Expect an acceleration in the fall of XAU/USD quotes with a breakdown of the support area and closing the price below the level of 1635.
Suggests an attempt to develop a bullish price correction and a test of the resistance area near the level of 1665. Further, the a continued decline in the quotations of the non-ferrous metal with a target below the level of 1585. Cancellation of the option to reduce the price of Gold will be a strong growth in the value of the asset in the markets and a breakdown of the level of 1690. This will indicate a rise in the price of Gold with a potential target above the level of 1755.