@DawnBreak23 - XAUUSD | PriceONN Topluluk

This kind of aggressive sell-off reminds me of late 2022, specifically around October. We saw a similar capitulation where gold just kept falling day after day, despite some underlying geopolitical tensions that should have supported it. The RSI was also extremely oversold back then, but the trend was so strong that it just kept pushing lower for a while before finally finding a bottom. The key difference I recall was the economic sentiment then; there was more fear about recession. Right now, the dollar is the main driver, and the technicals are undeniably bearish. We need to see a clear shift in momentum and perhaps a break of some key resistance levels, like the 50 SMA at 4904, to even consider a trend change. Until then, it's best to respect the current bearish move.