After a sharp reversal off the key trend line in April, gold broke through the first key trend line to the downside & is now testing a key pivot level. ~$1200 was a key pivot throughout 2016 and 2017, and also has the 50% fib retrace off the 2015-2017 climb to back it up. Taking the same slope angle as the previous trend & placing on the 2015 lows lines up nicely with current low.
4 hour chart
4 hour chart