I've been following this exact chart for a while now; Very interesting how well it's lining up with fib levels, as you can see. I've noticed that almost every unexpected Bull/Bear move that has had no obvious cause (due to news, or technicals on XAUUSD ) did have an obvious technical cause on XAUWCU.
For example, when considering when Gold broke out of the long term downward trend from the 2011 top:
- XAUUSD: Jan. 25, 2019
- XAUWCU: Dec. 17, 2018
Additionally, when considering when Gold broke out of the long term horizontal resistance dating back to 2013:
- XAUUSD: June 18, 2019
- XAUWCU: as early as June 7, 2018 and backtesting while it waited for XAUUSD to break out.