An additional signal for a rise in #XAUUSD quotes will be a test of the support line on the relative strength indicator and a breakout from the lower border of the “Triangle” model. If Gold prices fall and break below 2355 on August 9, 2024, it will signal a continuation of the decline to below 2305.
We may see accelerated growth in #XAUUSD if prices break through the resistance area and close above 2475, indicating a breakout from the upper border of the “Triangle” pattern with targets at the top.
A bearish price correction may test support near 2395, with further growth targeting above 2535. However, if prices fall below 2355, it will signal a continued decline with a potential target below 2305.