I'm not actually shorting gold
here, as a I'm a long-term bull, but technically, we did see a failure at the 200 EMA
. If support at 1280 doesn't hold, this could confirm a pattern of lower highs and pave the way for a re-test of major lows at 1180. Though given my bullishness I'm more interested in looking for signs of bottoming and corresponding buying opportunities rather than selling opportunities.