Yesterday, gold came close to the 2013 trend-line (in addition to the underside of the December trend-line) and again was swatted back lower. If the bounce dating back to last week is over on yesterdays turnabout, then the technical posturing is weakening as lower highs are becoming visible since the peak in January.
There is still good support down near 1300, which was last evident with the reversal bar etched out on March 1. With lower-highs potentially in place, a break below 1300 would likely have the 200-day and December 2016 trend-line in focus as targeted objectives.