XAUUSD (GOLD) looks to be headed lower. I see nothing to change my opinion to $1200 gold. I agree there is a possible support point at $1240. We are very close now and gold could bounce. We are still in a downtrend lower highs and lows. You can see the AB=CD pattern (red) from March. Confimring a triple bottom to come at $1200. The $1200 target will also be the bottom of the channel trendline support.
