Gold is getting overbought and 1250$ has been past support and resistance, as well as a psychological level. The weekly pivot R3 and 0.5 Fibonacci level coincide. Also we are still below the 200MA of which we could bounce. Anything above 1250$ is too much for me. Gold is in a long term downtrend, which in my opinion will end when the US dollar loses a lot of its strength.
