Gold prices kept falling in the intraday levels, being affected by breaching that ascending price channel that limited the metal's previous short-term movements as shown in the attached chart, with ongoing negative pressure from the SMA50 as prices settle below the resistance of 1,238.50, while noting a venting-off of oversold saturation apparent in relative power indicators.

Therefore we expect more correctional decline by the precious metal, targeting the support of 1,207.00.

Trend Bearish