Indicators on XAU/USD gives sell position and some of them shows divergence at important resistance. Short Position in short Time and Long Position after B.O. or reversal are waiting for. May be a A cup and handle!!
Breaking down the Long term channel trendline has 2 views of point. Making flat patten on wave 4 or a long term downward trend!
Let see whats happen!
The GOLD/Oil ration reached the top of the channel exactly at the middle line of Andrews. As it appear it has been pulled back to the Andrews and does not reached Fibbo resistance level. It may happen sharply or need some time for support on May.
