BTIG strategist Jonathan Krinsky says gold may see a tactical bounce after sentiment collapsed to one of its most bearish readings of the past year, but warns the broader correction is likely not over. The Daily Sentiment Index has fallen to just 10 from 88 at the late-January peak, while gold has dropped about 30% from its highs and now trades roughly 11% below its 200-day moving average. Krinsky expects the metal to eventually retrace toward its mid-2025 breakout level around $3,400 an ounce, even if oversold conditions produce a temporary rebound first.