XAU USD is situated into rising wedge and i think the top of this channel was reached at 1250$.
Stochastic overbought and bear cross is CONFIRMED
If we check RSI it s still dropping,top was reached also
MACD still in bullish zone and need to cool off a litle
First target of this rising wedge can be 0.618 fib which is 1236$ second target 1223$ and final target 1221.83$.
I don t think it will go below this level because we have a strong support from ichimoku cloud
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Touched support line of wedge
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Breakdown
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First target hitted