An additional signal indicating a potential downturn in #GOLD (#XAU/USD) quotes could stem from testing the resistance line on the relative strength index (RSI), along with a rebound from the upper boundary of the Head and Shoulders reversal pattern. Should prices surge beyond 2265, it suggests a break in resistance, potentially driving quotes above 2325. Conversely, anticipate a swift decline in XAU/USD quotes upon breaching the support area and closing below 2140, marking a breakdown of the lower boundary of the Head and Shoulders pattern with targets below.
Expect an initial attempt at a corrective phase, testing resistance around 2205, followed by a sustained downtrend targeting levels below 2085. However, if prices break above 2265, it would nullify the bearish outlook, indicating a potential rise towards 2325.