An additional signal in favor of a decrease in #XAUUSD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the “Triangle” model. Cancellation of the option of falling prices for GOLD on 9th November 2022 will be a strong growth and a breakdown of the level of 1715. This will indicate a breakdown of the resistance area and a continuation of the rise to the area above the level of 1775. Expect an acceleration in the fall of #XAUUSD quotes with a breakdown of the support area and closing the price below the level of 1595, which will indicate the breakdown of the lower boundary of the “Triangle” model and the start of working out the model with targets below.
Suggests an attempt to develop a price correction and a test of the resistance area near the level of 1685. Further, the continued fall of the non-ferrous metal quotes with a target below the level of 1565. asset on the markets and a breakdown of the level of 1715. This will indicate a continued increase in the price of Gold with a potential target above the level of 1775.