Possible double top on gold

On the weekly chart of gold we can see that the price of the precious metal has come back to its 200 week EMA (blue line), around the 1258.23 level. If the price bounces from the level to the downside, then a double top pattern may form, which is a bearish reversal pattern. In order for the double top formation to confirm itself, the price must break below the 1200.00 level, but we can see that the level has acted as a very good support in the past and it may stall the price there once again in case it falls to that zone. Below the 1200.00 level, the next support level could be the 1180.11, followed by the low that it did at the 1122.02 level. To the upside, in case the price breaks above the 1263.51 level, the next resistance could be the 1300.00 level, followed by the 1336.95 level and finally by the high at the 1375.14 level.