@rationaletrade If daily closes below 76k, and the price below yearly average, then why would one not look for shorts in the short term?
Is the mini rectangle not enough confluence ?
$COPPER/ $XAUUSD (Copper vs Gold) broke out above a 0.013 resistance level, which was followed by a strong upward move that then formed into a rising channel.
That channel has now broken down through its lower boundary, supporting the idea of gold outperformance versus copper here. The ratio is currently approaching the 0.0013 area, the same level that acted as resistance before the original breakout.
Worth monitoring whether this old resistance now holds as new support.