A potential signal for an increase in #XAUUSD quotes is a test of the support line on the relative strength index (RSI). Another indicator will be a breakout from the lower border of the bullish channel. The scenario for rising Gold prices will be invalidated on 24 July 2024 by a drop in prices and a breakdown below 2325. This would indicate a breach of the support area and a continued decline in asset quotes to below 2275. Anticipate an acceleration in the growth of #XAUUSD quotes with a breakout of the resistance area and closing prices above 2435.
The forecast assumes an attempt to develop a price correction and test the support area near 2370, followed by continued growth in non-ferrous metal quotations targeting above 2535. The bullish scenario for Gold prices will be invalidated by a fall in the asset's value and a breakdown below 2325, indicating a continued decline with a potential target below 2275.