In the trading week from June 3 to June 7, 2024, a signal for a potential rise in gold prices will be a rebound from the support line on the relative strength indicator (RSI). An additional signal will be a rebound from the lower border of the bullish channel. However, if prices fall and break below the 2145 level, this will indicate the end of the growth scenario, suggesting a breach of the support level and a continued decline toward 2035.
To confirm an increase in gold prices, watch for a breakout of the resistance area and a close above 2465. The anticipated scenario involves an initial decline to test the support level around 2205, followed by continued growth targeting above 2675. A test of the trend line on the RSI will also indicate a rise. If gold prices fall and break below 2145, this will invalidate the growth scenario, indicating a continued decline with a potential target below 2035.