A test of the support line on the relative strength index (RSI) will be a key signal for a potential rise in XAU/USD quotes. Another indicator will be a breakout from the lower border of the bullish channel. However, if prices fall and break below 2275 on June 6, 2024, this will nullify the growth scenario, suggesting a breach of the support area and a continued decline toward 2235.
An acceleration in XAU/USD growth is expected if the resistance area is broken and prices close above 2375, indicating a breakout of the upper limit of the Double Bottom reversal pattern. The forecast also anticipates a price correction and a test of the support area around 2305, followed by continued growth targeting above 2435. Conversely, if gold prices fall and break below 2275, it will invalidate the upward movement, signaling a continued decline with a potential target below 2235.