A critical technical signal for XAUUSD is emerging. While a test of the RSI support line and a rebound from the lower edge of the bullish channel hint at potential upward movement, failure of the gold price growth scenario on 04.02.2025 is expected to trigger a price decline. In such a case, a breakdown below the 2745 level would indicate that support is failing, likely driving prices further down toward levels under 2695.
Even though a breakout above 2825 might suggest a brief acceleration in growth, the overall picture remains bearish if support near 2775 cannot be maintained. Additionally, rising non-ferrous metal quotes targeting levels above 2905 add an interesting element, yet they do not offset the risk of a downward trend if key support levels collapse.
In summary, despite some isolated bullish cues, the prevailing forecast is a SELL. A confirmed breakout below 2745 would signal a continued decline, making the support area around 2775 crucial for traders to watch. If this level is breached, expect further drops with potential targets below 2695.