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Gold (XAU/USD) - Will this be a Corrective ABC Rally with Resistance Ahead?

Gold has been rallying sharply in the past couple of weeks. That being said, remember that the prevailing trend has been bearish since 2012. Price made a new low in July around 1071. If the current rally is just another bullish correction, I think we should monitor the 1200-1225 area. 

Gold (XAU/USD) Weekly Chart 10/15

(click to enlarge)

From the weekly chart gold bears should note a couple of technical themes.
1) Around 1225, price will tag a falling trendline and the 100-week moving average. It is also the resistance from a consolidation period earlier this year. 
2) The weekly RSI has remained mostly below 60. If it turns down when its around 60 again, we should take that as a sign that the bearish momentum is maintained. 
3) Furthermore, price action might end up being an ABC correction. Would you say that many and maybe most of the previous bullish corrections have been ABC correction patterns?

For the bulls, we might want to rein this in a little bit. Back in September we could have considered a medium-term outlook (for a couple of months). But now, we should limit our bullish outlook to the short-term, in extension of the current medium-term bullish correction. Maybe we should look at the daily chart too. Here, we might want to consider shifting to a more neutral or maybe even a slightly bearish outlook for the short-term if the RSI pushes above 70, especially price and the RSI forms a bearish divergence.