An additional signal in favor of the rise in quotes and prices for Gold in the current trading week 22th August - 26th August 2022 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound of the upper border of the bearish channel. Cancellation of the growth option for XAU/USD quotes will be a fall and a breakdown of the 1615 area. This will indicate a breakdown of the support level and a continued fall in Gold prices with a target below the level of 1565. A confirmation of the growth in the value of the asset will be a breakdown of the resistance area and the closing of quotes above the level of 1835.
Suggests an attempt to test the support level near the area of 1705. Then, the continued growth of Gold prices with a target above the level of 1905. 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 1615. This will indicate a continued decline in quotes to the area below the level of 1565.