An additional signal in favor of falling XAU/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling Gold prices on 23th August 2022 will be a strong growth and a breakdown of the level of 1780. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 1835. 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 1720, which will indicate a breakdown of the lower border of the descending channel, which will act as a strong signal to fall to the width of the channel.
Suggests an attempt to test the resistance area near the level of 1750. Further, the quotes continue to fall with a target below the level of 1680. 1780. This will indicate a breakdown of the resistance area for Gold. In this case, we should expect a continuation of the rise in the price of Gold with a potential target above the level of 1835.