A potential decline in XAU/USD prices could be confirmed if the relative strength index (RSI) tests the resistance line. Another indicator for a downward move would be a bounce off the upper boundary of the descending channel. If XAUUSD exceeds the 2705 level on December 3, 2024, it would cancel the bearish scenario and suggest an uptrend, potentially pushing prices above 2755.
However, if the price drops below the 2605 level, it will confirm a breakout of the support area and the lower boundary of the bullish correction channel, accelerating the decline. On the other hand, if prices approach the 2685 resistance level, we could see a brief upward correction before the downtrend resumes, targeting below the 2525 mark.
If XAUUSD breaks the 2705 resistance level, this would signal a strong uptrend, indicating further growth and a potential move towards 2755 or higher.