A potential decline in XAUUSD may be confirmed by two key signals: first, a test of the resistance line on the RSI; second, a rejection from the upper boundary of the descending channel.
If gold prices rise sharply and break through the 2745 level on 7 November 2024, the bearish outlook would be void, signaling further gains potentially targeting 2795. Otherwise, a support break and closure below 2625 could trigger an accelerated drop.
Gold could initially attempt a bullish correction toward 2685, but further declines are expected if the asset fails to sustain gains, with targets below 2525.