An additional signal in favor of an increase in XAU/USD quotes will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower boundary of the wedge reversal pattern. The cancellation of the price increase scenario for Gold on June 22, 2023, will occur with a decline and a breakthrough below 1905. This would indicate a breakthrough of the support area and a continuation of the decline in the asset’s quotes towards a level below 1865. Expectations of an acceleration in the rise of XAU/USD quotes should be considered with a breakthrough of the resistance area and the price closing above the 1975 level, indicating a breakthrough of the upper boundary of the wedge pattern and the initiation of the pattern’s targets to the upside.
Suggests an attempt to develop a price correction and test the support area near the 1930 level, followed by a continuation of the rise in gold quotes with a target above the 2045 level. The cancellation of the price increase scenario for Gold will occur with a decline in the asset’s price and a breakthrough below the 1905 level. This would indicate a continuation of the decline in the price of Gold with a potential target below the 1865 level.