An additional signal in favor of falling #XAUUSD 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 to reduce the price of Gold on 25th October 2022 will be a strong growth and a breakdown of the level of 1695. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 1765. 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 1605.
Suggests an attempt to develop a bullish price correction and a test of the resistance area near the level of 1655. Further, the continued decline in the quotations of the non-ferrous metal with a target below the level of 1545. Cancellation of the option to reduce the price of Gold will be a strong growth the value of the asset in the markets and a breakdown of the level of 1695. This will indicate a rise in the price of Gold with a potential target above the level of 1765.