An additional signal in favor of the rise in quotes and prices for Gold in the current trading week August 21 — 25, 2023 will be a rebound from the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for XAU/USD quotes will be a fall in the price and a breakdown of the area of 1765. This will indicate a breakdown of the support level and a continued fall in the price of Gold with a target below the level of 1705. Confirmation of the growth in the value of the asset will be a breakdown of the resistance area and closing of quotes above the level of 1965, which will indicate on the breakdown of the upper border of the downward correction channel.
Suggests an attempt to develop a decline and test the support level near the area of 1835. Then, the continued growth in Gold prices with a target above the level of 2125. A test of the trend line on the relative strength index (RSI) will come out in favor of the rise in quotes. Cancellation of the growth option for GOLD will be a fall and a breakdown of the level of 1765. This will indicate a continued decline in quotes to the area below the level of 1705.