Gold Price Reversal

Price is at the resistance level and it has more potential for down movement. We have a double top chart pattern, a reversal candlestick pattern at 1250.00 level. Also RSI reverses and gives a bearish signal. It shows that the market is going to move down. We can sell if price drops below the resistance level. Stop orders must be placed above 1271.00 level. Profit targets should be at the uptrend line and 1200.00 level.