Gold trend in H4 time frame

21 Eki 2022

The downside break of the rising trendline support, earlier this week, has kept XAU sellers alive and kicking. Bears now gather strength to take out the 2022 lows at $1,615, paving way for a test of the $1,600 round figure. The 14-day Relative Strength Index (RSI) is pointing south towards the oversold territory while below the midline, suggesting that there is more room to the downside