Gold Drops to Support – Bullish Structure Still Intact (For Now)

Gold fell nearly 2.5%, retesting its rising trendline and the 50-day SMA near $3,180 after failing to hold above $3,400:

📉 RSI dipped to 49, showing fading momentum but not yet oversold
📊 MACD is crossing lower, suggesting weakening bullish pressure
🟦 Key support:

Rising trendline and 50-day SMA near $3,180

Further downside could target $3,050

📈 Bulls want to see a strong bounce from this area to maintain the uptrend structure. A daily close below $3,180 would shift near-term bias neutral to bearish.

-MW