Another indication supporting a potential uptrend in Gold during the trading week spanning March 11th to March 15th, 2024, would be a bounce off the support line on the relative strength indicator (RSI). Additionally, a bounce off the lower boundary of the bullish channel serves as another signal. The possibility of XAU/USD prices increasing will be invalidated by a decline below the 1985 mark, indicating a breach of support and further downward movement with a target below 1915. Confirmation of an asset value increase would occur with a breach of the resistance zone and subsequent closure of quotes above 2225, signaling a breach of the upper boundary of the bullish channel, indicating potential growth by the channel's width.
An anticipated scenario involves a descent and testing of support around the 2125 region, followed by a potential upward movement in Gold prices targeting above 2325. A validation of this upward trend would be a test of the trend line on the relative strength index (RSI). Conversely, a decline and breach of the 1985 level would negate the possibility of Gold's growth, suggesting a sustained decline towards levels below 1915.