Gold XAUUSD is testing key support at around 1,870. RSI is below 40 i.e., in negative sentiment supporting the bearish trend scenario.
However, the past couple of times RSI has hit 30 level XAUUSD has rebounded. Same behaviour could occur this time around
If not, and Gold is closing below 1,870 a swift sell-off down to around 1,800 could be seen. Declining 55 and 100 Moving Averages are adding to the bearish sentiment
However, the 55 weekly Moving Average is adding to the support and weekly RSI is still in positive sentiment.
Bottom line, 1,870 could be crucial both short- but especially on medium-term.