Gold price continues to trade in a bearish trend and is expected to move towards $1,230 before a bigger bounce. Overall I believe a big correction has started that will bring price towards $1,170-90.
Blue lines - bearish channel
Gold price is trading below the Kumo (cloud) and inside the bearish channel. I believe we are close to completing the downward move from $1,290 but only a corrective bounce is expected to follow. Trend is bearish and price is heading towards $1,190-70 as long as price is below $1,290.