An additional indicator favoring a rise in GOLD prices during the trading week of March 4 — 8, 2024, would be a bounce off the support line on the Relative Strength Indicator (RSI). Another signal would be rebounding from the lower boundary of the bullish channel. If GOLD prices decline, breaking below the 1945 level, it would signal a breach of support and further decline to below 1875. Confirming the asset's value growth would involve breaking through the resistance area and closing quotes above 2095, indicating a breach of the upper boundary of the "Head and Shoulders" reversal pattern and the pattern's development with targets at the top.
Anticipate an attempt to decrease and test support around the 2010 area. Subsequently, expect continued rise in GOLD prices targeting above 2175. Testing the trend line on the Relative Strength Index (RSI) would support the upward trend. A decline and breaking below the 1945 level would cancel the option for GOLD's growth, indicating ongoing quote decline to below 1875.