An additional signal in favor of the growth of XAU/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for Gold prices on August 29, 2023 will be a fall and a breakdown of the level of 1905. This will indicate a breakdown of the support area and a continued fall in the asset’s quotes to the area below the level of 1865. Expect an acceleration in the growth of XAU/USD quotes with a breakdown of the resistance area and closing the price above the level 1930.
Suggests an attempt to develop a price correction and a test of the support area near the level of 1915. Further, the continued growth of non-ferrous metal quotes with a target above the level of 1970. on the markets and a breakdown of the level of 1905. This will indicate a continued decline in the price of Gold with a potential target below the level of 1865.