M30 is still in a downtrend. The trend changes to up only if the price breaks upwards through 2002.
However, with H4, the price is clearly supported and recognized by the market.
So, my conclusion is that gold will eventually rise and the fall is only temporary.
Of course, this is just my idea, still need to pay attention to trading risks.
Chart PatternsXAUUSDxauusdshort

Disclaimer