@mumNeha99 on XAUUSD | PriceONN Community

You know, seeing XAUUSD get hammered today like this, it reminds me of that news about the Fed not cutting rates. It feels like a lot of fear is driving the price down right now, and sometimes fear creates the best opportunities. I'm not saying it's going to rocket up tomorrow, but this kind of oversold RSI (around 13.5!) combined with the big drop below 4850 mentioned in the news is screaming 'potential reversal' to me. I'm looking at that 4586 pivot as a potential bottom or at least a strong area for a bounce. If we can hold that and maybe see some buying pressure come in, I think we could see a decent recovery. It's easy to get scared when gold drops this hard, but sometimes the biggest profits come from buying when everyone else is selling, especially if the fundamental reason for the drop is temporary. I'm staying bullish on gold long-term, and this might just be a very aggressive shakeout before the next leg up.