Gold Drops Hard, Rebounds to EMA 34 – Retest or More Downside? for OANDA:XAUUSD by DomicChaina

TradingView idea: Gold Drops Hard, Rebounds to EMA 34 – Retest or More Downside? for OANDA:XAUUSD by DomicChaina TradingView symbol: XAUUSD Hello everyone, On the H1 timeframe, gold has just experienced a decisive drop after breaking below the previous consolidation zone around 4,780–4,800. This move triggered strong selling pressure, pushing price down toward the 4,680 area. Notably, the decline came with high volume, suggesting this was not just short-term noise but a deliberate distribution phase. However, shortly after hitting the low, price showed a relatively quick rebound. Consecutive bullish candles indicate that buying …