Hello traders, Technical analysis of the GOLD / XAUUSD pair on a 30-minute chart. Here, the price at 4347.70 has hit the timeframe high and started to correct downwards from there. The price is getting ready to test a significant red zone. The oscillator indicates that the price is oversold. It is reaching a minimum. It will finish working in the negative oversold zone and move upwards. The price may continue its descent, correct down to test support levels: the moving average (MA) - the blue line at 4353.75, the red line at 4214.50, the double bottom level at 4175.25, and fully test the red zone.
