Gold Short at ~1305-1312.... Long at ~1260

Gold has been continuously making lower highs since February while DXY has been setting up for a move passed 98. Nothing has fundamentally changed for Gold since February and, barring any black swan event, it should continue it's move down. With the FOMC minutes coming out tomorrow I would expect Gold to test the trendline resistance before making a sharp move down to the 1260 level (buying opportunity as RSI would be oversold). A break of the down sloping trendline resistance would invalidate this idea.