On the 4 hour chart we have just tested monthly resistance(light blue line) where it also intersects with the monthly downward channel
since roughly 2013
. the intersection of the trend line
and resistance line, along with being oversold on the TDI
indicate a pullback of the market, my guess to at least the 38% fib line over the next few days. That being said with the way AU
has been hammering up recently I would not be surprised if we do break through this resistance soon. Just not on the first try. my TP will be at the 38 fib or whenever i see things start to turn around.