An additional signal in favor of an increase in #XAUUSD quotes will be a test of the support line on the relative strength indicator. The second signal will be a breakout from the lower border of the bullish channel. If prices fall and break below 2485 on 21 August 2024, this will cancel the growth scenario for Gold, indicating a continuation of the decline to below 2425.
Expect an acceleration in #XAUUSD growth with a breakout of the resistance area and a close above 2545, signaling a breakout of the upper border of the bullish channel and potential growth by the width of the channel.
This suggests a possible bearish correction and a test of support near 2505, followed by continued growth with a target above 2575. The growth scenario will be canceled if prices fall below 2485, indicating a continued decline.