Certainly, gold had a very nice run this year, and of course it has become overbought. We saw a correction from the tops, but ard 1326-1330 there is a good support level (recent uptrend + horizontal on Daily chart). You could ask me why I would like to go long here, when on the 4 Hrs trading time fram the price is clearly below the Kumo, and also other Ichimoku components look bearish. Well that is true, but the higher time frame is still very much bullish, and here is the trend line very well visible on 4 Hrs as well + Stochastic is preatty much oversold. It is often a big mistake for those who trade on Kumo breakouts, that they don't wait until the price penetrates the previus Key Support/Resistence! That is always essential to validate a change in the direction of the trend! This Key support is here ard 1325-1330. Strategy is go long with stop 1320, tgt 1355 - 1360.