GOLD ends the trading week with growth near the 2627 area. XAU/USD quotes continue to move within the correction and the ascending channel. Moving averages indicate a bullish trend for Gold. Prices are again testing the area between the signal lines, which indicates pressure from buyers and potential continuation of price growth. At the moment, we should expect an attempt to develop a price decline and a test of the support level near the 2525 area. Next, a price rebound upward and continuation of XAUUSD growth with a potential target above the 2845 level.
GOLD Forecast and Analysis December 23 — 27, 2024
An additional signal in favor of growth in quotes and prices for Gold in the current trading week of December 23 — 27, 2024 will be a rebound from the trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the “Triangle” pattern. The cancellation of the growth option for XAU/USD quotes will be a price drop and a breakout of the 2495 area. This will indicate a breakout of the support level and a continuation of the fall in Gold prices with a target below the 2425 level. The growth in the asset value will be confirmed by a breakout of the resistance area and closing of quotes above the 2705 level, which will indicate a breakout of the upper border of the “Triangle” pattern and the beginning of the implementation of the pattern with targets at the top.
GOLD Forecast and Analysis December 23 — 27, 2024 suggests an attempt to develop a decline and test the support level near the 2525 area. Then, the continuation of the growth of Gold prices with a target above the 2845 level. A test of the trend line on the relative strength indicator will be in favor of the rise in quotes. The cancellation of the Gold growth option will be a fall and a breakout of the 2495 level. This will indicate a continuation of the decline in quotes to the area below the 2425 level.
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