$XAU / Gold Update – Quick Take
Gold has pulled back from the highs near $5,594 after a strong run, mostly due to profit-taking and a firmer dollar. Even with this dip, the bigger trend is still up since price is holding above key EMAs (50 & 200). That said, short-term pressure is building.
On the indicators side, MACD is turning bearish on lower timeframes, showing short-term selling momentum. RSI has cooled off from overbought, but it’s not oversold yet — meaning there’s still room for more downside before buyers step in.
If gold keeps dipping, key levels to watch are:
$5,000 first major support
$4,800–$4,500 for a deeper correction
$4,360–$4,550 as strong trend support
One bullish note: whales are still accumulating, especially in tokenized gold (XAUt), which suggests big players are buying dips, not panicking.
Bottom line: short-term correction, medium-term bullish. Expect volatility, but major supports matter here. 🟡📉📈
