In the trading week of June 10-14, 2024, a potential increase in GOLD prices could be signaled by a rebound from the support line on the relative strength indicator (RSI). Another positive indicator would be a rebound from the lower border of the Triangle pattern. However, if prices fall and break below the 2215 level, this would invalidate the growth scenario, indicating a breach of the support level and a continued decline toward 2065.
An increase in GOLD prices could be confirmed by a breakout of the resistance area and a close above 2465, signaling a breakout of the upper border of the Triangle pattern and the start of an upward trend. The scenario also anticipates a price correction and a test of the support level around 2315, followed by a continued rise targeting above 2605. A test of the trend line on the RSI would further support the case for rising quotes. Conversely, a fall and breakdown below 2215 would invalidate the growth scenario, suggesting a continued decline with a potential target below 2065.