Gold prices (XAUUSD) are poised for growth this week, supported by key technical indicators. A bounce from the trend line on the Relative Strength Index (RSI) provides a strong signal for an upward move. Additionally, a rebound from the upper edge of the “Triangle” pattern reinforces the bullish outlook.
However, a bearish scenario could emerge if prices fall below 2495, signaling a support level breakdown and potential continuation of the decline towards 2425.
A confirmed bullish breakout will occur if XAUUSD surpasses 2745, breaking through the resistance zone and completing the “Triangle” pattern. In this case, Gold may aim for a target above 3025.
The initial movement may involve testing support near 2675, followed by further gains. RSI testing the trend line will bolster confidence in rising prices. Conversely, breaking below 2495 would negate the growth scenario and point to further declines below 2425.
This outlook balances the possibility of a pullback with a strong chance for Gold to achieve higher targets.