An additional indication supporting a decline in GOLD prices would be testing the resistance line on the Relative Strength Index (RSI). Another signal would be rebounding from the upper boundary of the descending channel. The cancellation of the downward price trend for Gold on February 28, 2024, would entail a significant price surge and breaking through the 2065 level, signaling a breach of resistance and further asset price growth above 2105. Anticipate an accelerated decline in GOLD quotes if the support area is breached, closing prices below the 2015 level.
The GOLD forecast and analysis for February 28, 2024, suggest an attempt to correct prices and test resistance around 2045. Subsequently, expect a continued decline in non-ferrous metal prices with a target below 1970. Canceling the possibility of price reduction for GOLD would involve a substantial asset value increase in the markets, breaking through the 2065 level, indicating ongoing price appreciation with a potential target above 2105.