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Gold’s sharp drop back below $1300 suggests that the rally of June has ended, and with both stochastics and relative strength index turning lower on the daily chart, the sellers may now have the upper hand.
A move below $1280 would then head towards $1255 and then $1236, the 50- and 100-day simple moving averages respectively. A bounce back above $1300 would restore some bullish momentum.