Reversal and a double top
The picture in gold isn't pretty.
It touched off $1282 on the soft retail sales and CPI data today ahead of the Fed but when Yellen brushed aside everything it reversed lower. The low so far is $1257, which would slap an outside day on the chart.
In addition, there is a big double-top building at $1295.
It's not curtains yet but if the US economic data starts to turnaround (it will take awhile because there's no top-tier data until the end of June), then this could be the start of a big swoon for gold.
