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Commentary
We see a descending triangle continuing the Gold downtrend as sellers are willing to go lower whilst buyers stay at the same level.
The Ichimoku cloud has bearish signals as prices are falling below the cloud and the cloud is red.
Additionally the blue line Tenkan-Sen (Conversion Line) has crossed below the yellow line Kijun (Base line) signalling that momentum has shifted to downside.
Lastly the RSI, currently at 52.5, is in a downtrend and we will look for it to drop below 50 to confirm the downtrend towards the major support level around 1280.