The price is under MA(50), indicating the prevailing downtrend.
The RSI, which is deep in the oversold zone, together with the MACD suggest a possible correction upwards.
What the possible outcomes are
XAUUSD fell sharply lower on Friday. There’s a chance of an upward correction in the short term. First resistance level at 1,870. A decline below the 1,858 support level is likely to encourage more technical selling towards the 1,828.
Key levels:
Support 1,828, 1,858, 1,870, 1,884
Resistance 1,870, 1,884, 1,894
