- price broke out of up trend channel last week and retraced several times from trend line - price holds under 100D SMA = bearish - RSI broke down from up trend line and showing further down movement - wait for clear confirmation before entering this trade
On Tuesday and Wednesday the next FED meeting will take place. Many expect a timely increase of the prime rate. If that's the case, the gold price will go down. Should the FED still wait with the next increase, a rapid rise in the price of gold can be expected.