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 bearish channel. Cancellation of the option of falling prices for Gold on August 24, 2023 will be a strong growth and a breakdown of the level of 1945. This will indicate a breakdown of the resistance area and continued growth of the asset’s quotes to the area above the level of 1995. Expect an acceleration in the fall of XAU/USD quotes with a breakdown of the support area and closing the price below level 1885.
Suggests an attempt to develop a price correction and a test of the resistance area near the level of 1915. Further, the continued fall of the non-ferrous metal quotes with a target below the level of 1835. Cancellation of the option of falling Gold prices will be a strong growth in value an asset on the markets and a breakdown of the level of 1945. This will indicate a continued rise in the price of Gold with a potential target above the level of 1995.