An additional signal favoring an increase in quotations and prices for Gold in the current trading week from October 30 to November 3, 2023, would be a rebound from the support line on the relative strength indicator (RSI). The second signal would be a rebound from the upper boundary of the bearish channel. The annulment of the potential for growth in XAU/USD quotes would result in a price drop and a breach of the 1805 area. This would indicate a breakdown of the support level and a continuous decline in Gold prices with a target below the 1735 level.
Assumes an attempt to form a decline and test the support level near the 1910 area. Subsequently, an ongoing increase in Gold prices with a target above the 2185 level. Testing the trendline on the relative strength index (RSI) will reinforce the rise in quotes. The negation of the growth potential for Gold would lead to a decrease and a breach of the 1805 level. This would signify a continued decrease in quotes to the area below the 1735 level.