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Daily GOLD Forecast – 6.11.2024

A potential bullish scenario for XAUUSD could unfold if the RSI indicator tests its support line and the price rebounds from the upper boundary of the "Wedge" reversal pattern. However, a bearish scenario might emerge if the price breaks below the 2710 level, suggesting a potential decline towards the 2695 support level. A bullish breakout above the 2755 resistance level could accelerate the upward momentum, with a potential target above 2775. A short-term bearish correction could be anticipated, with a potential test of the 2725 support level.