An additional signal in favor of a decrease in XAU/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the option of falling prices for Gold on 3th November 2022 will be a strong growth and a breakdown of the level of 1665. This will indicate a breakdown of the resistance area and a continuation of the rise to the area above the level of 1705. Expect an acceleration in the fall of XAU/USD quotes with a breakdown of the support area and closing the price below the level of 1625, which will indicate a breakdown of the lower border of the bullish correction channel.
Suggests an attempt to develop a price correction and a test of the resistance area near the level of 1655. Further, the continued fall of the non-ferrous metal quotes with a target below the level of 1595. Cancellation of the option to reduce the price of Gold will be a strong increase in the cost asset on the markets and a breakdown of the level of 1665. This will indicate a continued increase in the price of Gold with a potential target above the level of 1705.