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.