A strong signal supporting a rise in Gold prices this week comes from a rebound on the RSI trend line, signaling momentum. Additionally, a bounce from the lower edge of the bullish channel further confirms potential upward movement.
Key Levels to Watch:
- Support Area: 2595
- Resistance Area: 2845
If XAU/USD breaks 2595, it would invalidate the bullish outlook, suggesting continued price declines toward 2525. Conversely, breaking above 2845 and closing higher would confirm further growth, with a target surpassing 3125.
The forecast indicates a likely pullback to 2765 (support level) before resuming an upward trend. Testing the RSI trend line adds confidence in the bullish case. However, a fall below 2595 would shift the scenario toward a sustained decline in Gold prices.