An additional indicator suggesting a potential uptrend for GOLD during the trading week of February 26 — March 1, 2024, would be a bounce off the support line on the relative strength indicator (RSI). Another signal would be a rebound from the lower boundary of the bullish channel. If prices for Gold (formerly XAU/USD) drop and breach the 1935 level, it would invalidate the upward trend, signaling a further decline with a target below 1865. Conversely, confirmation of an uptrend would occur if prices break resistance at 2045, indicating a breach of the upper boundary of the descending correction channel.
There's a likelihood of a downward move to test support around the 2005 level before a potential upward trend resumes, targeting above 2165. Testing the trend line on the RSI would reinforce the upward momentum. However, if Gold prices fall below 1935, it would suggest a sustained downtrend with a target below 1865.