An additional signal indicating a potential decline in #XAUUSD quotes would be a test of the resistance line on the relative strength index (RSI) and a breakout above the upper boundary of the bearish channel. If prices sharply rise and breach 2345 on 27th June 2024, it would invalidate the bearish outlook, suggesting a breakout of the resistance area and continued growth toward levels above 2395.
Expect an acceleration in the decline of #XAUUSD quotes if the support area is breached and prices close below 2285. The scenario assumes an initial attempt at a price correction with a test of the resistance area around 2315, followed by further decline targeting below 2235. Conversely, a strong increase in the asset's value and a breakout above 2345 would negate the bearish scenario, indicating a continued rise in Gold prices with a potential target above 2395.