Gold: Double inside day (harami) suggests Fed volatility
Gold has been consolidating at the bottom of a strong downtrend near $1200 per oz.
We will follow the trend until it ends! assuming a break lower. The risk to this outlook is the monthly rising trendline holds
Potential bearish scenarios
Scenario A) The inside day breaks to the downside, targeting 1160 low
Scenario B) Inside day makes a false break to the topside before turning lower
We will follow the trend until it ends! assuming a break lower. The risk to this outlook is the monthly rising trendline holds
Potential bearish scenarios
Scenario A) The inside day breaks to the downside, targeting 1160 low
Scenario B) Inside day makes a false break to the topside before turning lower
