Gold prone to a correction

Gold had been climbing on the back of a weaker Dollar. The precious metal reached a high around the 1366 level as shown on the weekly chart. From the high at the 1366 level, the price of gold has been retracing or pulling back. If the next weekly candle is also bearish, then gold may drop to the 1300 level, which on the other hand, could act as a support. Below the 1300 level, the next support could be the 55 week EMA around the 1279 level. To the upside, the zone between the 1366 level and the 1375 level could act as resistance in case the price goes back up.