An additional signal favoring the rise in #XAUUSD quotes will be a test of the support line on the relative strength indicator. Another signal will be a breakout from the lower border of the bullish channel. The growth scenario for Gold prices will be invalidated on 30 July 2024 if prices fall and break through the 2335 level. This would indicate a breakdown of the support area and a continuation of the fall in asset quotes to below the 2285 level. Expect an acceleration in the growth of #XAUUSD quotes with a breakout of the resistance area and a price close above the 2415 level.
This analysis suggests an attempt to develop a price correction and test the support area near the 2375 level. Following this, there should be a continuation of growth in non-ferrous metal quotes with a target above the 2465 level. The growth scenario for Gold prices will be canceled if the asset value falls in the markets and breaks through the 2335 level, indicating a continued decline in the price of Gold with a potential target below the 2285 level.