As we get into the 7/24 Asian session, gold price is falling sharply. It looks poised to test the 1292.20 low and perhaps has further downside risk.4H ChartLooking at the 4H chart, we see that a swing projection would target the 1270-1275 area. When you look at the daily chart you can see that the swing projection area is also a previous support/resistance pivot area. Since the trend in 2014 is sideways, and forming a triangle, we should limit the bearish outlook to 1270. A push lower could violate the triangle support. In fact expect buyers around the 1260-1270 area.Daily Chart