@justinallen81 on XAUUSD | PriceONN Community
J
Gold's downtrend is picking up steam. RSI below 30 suggests oversold conditions, but the momentum is clearly bearish. Watch for a potential bounce around the 4900 level, but don't expect it to hold for long. Geopolitical risks are still elevated, but the market seems more focused on interest rate hikes right now. A break below 4900 could open the door to further declines.