A supportive signal for an increase in XAU/USD quotes is expected from testing the support line on the relative strength index (RSI). Additionally, a breakout from the lower border of the bullish channel will serve as a confirmation of this upward trend. However, if prices fall and break through the 2275 level on May 30, 2024, this would invalidate the increase scenario, signaling a breakdown of the support area and suggesting further declines towards the 2245 level.
Should the resistance area be broken and prices close above 2365, an acceleration in the growth of XAU/USD quotes is anticipated. The scenario includes an initial price correction and a test of the support area around 2295, followed by continued growth with a target above 2435. Conversely, if Gold prices fall and breach the 2275 level, it will invalidate the upward movement scenario, indicating a continued decline in Gold prices with a potential target below 2245.