Gold - Lower prices are very likely

Gold remains in a corrective structure and might soon test its 200MA around 1,260 USD.
If this level doesn't hold expect a sell off down to 1,205 - 1,235 USD.
In this zone gold would be a buy again.

Until that remain patient even though there might be some short-term recoveries and spikes due to the oversold situation that could be confusing.