Gold (XAUUSD) is showing signs of potential decline for May 20th, 2025. A key indicator is the test of the Support level on the RSI, suggesting continued bearish pressure. Another bearish signal appears when the price bounces off the lower boundary of the ascending channel, hinting at further downside movement.
If the price breaks below 3085, it would confirm a breach of support and could lead to a drop towards the 2845 level. This would strengthen the case for a sustained downward move.
On the flip side, a break above the resistance zone, with a daily close over 3345, would signal the end of the current correction and open the path for a bullish reversal. Until that happens, pressure remains to the downside.
The current outlook suggests a possible dip towards 3165, followed by a short-term rebound — but only if buyers regain control. Still, a confirmed drop below 3085 would strongly support a bearish continuation with a potential target under 2845.
Summary: Market signals favor a SELL scenario, with the key level to watch being 3085. A break below it could trigger further losses, confirming bearish momentum.