Gold still bearish

Gold continues dropping and it has reached the 1250 level as shown on the daily chart, where it may try to bounce to the upside. If the price bounces to the upside and reaches the 200 day exponential moving average, then a breakout and pullback may be completed and a short entry may be possible. If the price breaks above the 200 day EMA, then the 1300 level may still act as a resistance. On the other hand, if the Dollar continues rising, especially if the NFP numbers come out better than expected, then the precious metal may continue dropping and break below the 1250 level. The next support level below the 1250 level is the 1200 level.