As of 28 May 2025, indicators suggest a potential continuation of the downward movement in XAUUSD prices. 📉 The first confirmation comes from a test of the support line on the RSI indicator. A second signal is the bounce from the lower boundary of the bullish channel, which could mark the beginning of a bearish correction.
A drop below 3175 would confirm the break of a key support level, opening the way for further losses toward the 3045 area. Such a move would cancel any short-term bullish expectations.
On the other hand, a breakout above 3405 and a close above that level would indicate a reversal of the current correction phase, with a possible continuation of the upward trend toward 3505.
In the short term, a test of the 3235 support area is expected, potentially setting the stage for a renewed rise in prices. However, any move below 3175 would reinforce the bearish outlook.
Traders should monitor these critical levels closely and watch for confirmation signals to make informed decisions. Risk management remains essential, given the potential for sudden price reversals.