🟡 GOLD (XAU/USD): Time to buy or should we wait? 📉

The last few weeks for gold have been hot. After reaching historical highs (ATH) above $5,600, the price underwent a rather aggressive correction. Let's take a look at what the charts say on the 1D time frame:

1. Price movement:

Now we see an attempt to bounce off a local bottom around $4,375. The price closed at $4,463 (+1.95%). This is a positive signal, but it's still too early to talk about a complete trend reversal — we are still in a correction phase after a powerful rise.

2. MACD indicator:

Here, no illusions. The histogram is in the red zone, and the MACD line has sharply dropped below the signal line. This confirms a strong bearish momentum that has not yet completely exhausted itself.

3. RSI index:

Now this is interesting! RSI has fallen to 34.65. We are almost touching the oversold zone (30). Such values have historically become a point of reversal or at least a good technical bounce.

📊 Conclusion:

Gold looks locally oversold. Current levels might be interesting for those who are going long, but for a safe entry, it’s worth waiting for confirmation — for example, crossing lines on the MACD or settling above $4,500.