GOLD Forecast

Gold prices (XAUUSD) are expected to rise during the trading week of December 23–27, 2024. A key signal supporting this growth is a rebound from the trend line observed on the RSI. Another signal is the price reacting positively to the lower edge of the “Triangle” pattern.

Key Levels to Watch:

• Growth Confirmation: A breakout above 2,705 will confirm an upward trend. This move indicates the price surpassing the triangle's upper boundary, potentially targeting levels around 2,845 or higher.
• Growth Invalidation: If the price drops below 2,495, this would break the support level, signaling further declines toward 2,425.

The price may initially test the 2,525 support level before resuming its upward trajectory. A successful test of the RSI trend line will reinforce the bullish outlook.

Keep an eye on price action near the resistance and support zones for clear directional confirmation.

A decline in XAU/USD quotes is anticipated, supported by two key signals: a test of the resistance line on the RSI indicator and a rebound from the resistance zone on the price chart. A temporary bullish correction may push prices towards the resistance near 2615, but a continuation of the decline is expected if the support area at 2575 is breached, with prices potentially falling below 2545.

The bearish outlook remains valid unless a breakout above 2645 occurs, which would signal a reversal and likely continuation of growth towards 2705 or higher. Key movements are expected around December 20, 2024, and any strong price surge invalidating these levels should be closely monitored.

An additional indicator supporting a decrease in XAU/USD is a test of the resistance line on the RSI. Another key signal is a rejection from the resistance zone on the price chart. If Gold prices rise significantly and break above 2685 on 19 Dec 2024, this bearish forecast will be invalidated. Such a breakout would signal continued growth towards the 2755 level.

The bearish scenario strengthens with a confirmed break below the support level at 2625, potentially accelerating the decline in XAU/USD.

Current analysis suggests a potential short-term price correction towards resistance near 2665 before the decline resumes. The fall could target levels below 2575. A breakout above 2685 would cancel this projection, indicating upward momentum with a new target surpassing 2755.

Gold prices (XAUUSD) are signaling a possible decline during the trading week of 16–20 December 2024. Indicators supporting this prediction include a rebound from the RSI (Relative Strength Index) resistance line and rejection at the upper boundary of the Double Top reversal pattern.
A fall below the 2,545 support level would confirm a bearish trend, potentially targeting prices under 2,285. Conversely, a breakout above 2,985 would negate the bearish outlook and suggest continued growth toward 3,265 or beyond.
Price movement might first test the 2,765 resistance area before resuming a downward trajectory. Additionally, testing the RSI trend line further supports the bearish forecast. However, a strong rise above 2,985 would indicate bullish momentum and a likely increase toward 3,265 or higher.
Monitor these critical levels to determine the next major move in gold prices.

XAUUSD is expected to decline, supported by signals such as testing the RSI resistance line and rebounding from the resistance zone on the chart. A short-term bullish correction may occur if prices test the 2715 resistance area, but a breakout below the 2665 support level would confirm a bearish move, targeting 2625. The bearish scenario will be invalidated if prices break above 2775, indicating continued growth with a potential target of 2865 or higher. Key levels to watch include resistance at 2715 and 2775, and support at 2665 and 2625. Forecast date: 13 December 2024.

The potential for XAU/USD growth is indicated by a test of the support line on the RSI indicator and a rebound from the lower boundary of the bullish channel. On December 12, 2024, the bullish scenario will be invalidated if the price falls below 2665, signaling a breakout of the support area and a continuation of the decline toward levels below 2635.

The resistance zone at 2735 is a critical threshold for further growth; a breakout and close above this level could accelerate movement toward a target above 2785. Meanwhile, a test of the support area near 2695 may suggest a short-term bearish correction before the upward trend resumes.

The bullish outlook will be invalidated if the price breaches 2665, likely leading to a further decline toward 2635.

XAUUSD is anticipated to decline if it breaches the 2605 level. This would signal a bearish trend and could potentially lead to a price drop towards the 2565 level. A bullish scenario for XAUUSD would involve a breakout above the 2705 level, which could trigger a price increase towards the 2725 level. However, a potential bearish correction may occur, testing the support level near 2665. A break below this level could intensify the downward movement. Key levels to watch include resistance at 2705 and support levels at 2665, 2605, and 2565. Indicators to monitor are the RSI, where a test of the support line could signal a bullish reversal, and the price channel, where a rebound from the lower border could indicate a potential upward move.

A potential signal for a decline in XAUUSD is a test of the support line on the RSI indicator. The second signal would be a bounce off the upper boundary of the "Triangle" pattern. A break below the 2605 level on December 10, 2024, would cancel the bullish outlook and suggest further declines in gold prices, with the next target at 2565.
Alternatively, if XAUUSD breaks above the resistance level and closes above 2675, a stronger bullish trend can be expected. In this case, an initial correction could occur near the 2645 support level, followed by an upward movement, potentially targeting levels above 2725.
However, the bearish scenario will be confirmed by a drop below 2605, signaling a continuation of the downward movement in gold prices.

XAUUSD is poised for a potential decline. A test of the resistance line on the RSI indicator and a rebound from the upper border of the "Head and Shoulders" reversal pattern could trigger this movement.

A decisive break below the 2605 support level would confirm the bearish scenario and open the way for a further price drop towards the pattern's target levels.

However, a strong price surge above 2715 would invalidate the bearish outlook and signal a potential rally towards the 2765 resistance level.

In the short term, a bullish correction towards 2655 is possible, followed by a resumption of the downward trend.