I wouldn't open a long entry here i would keep an eye out for reversal; looking at volume for confirmation.
If this plays out over the next few weeks gold could break lower to ~$1200 and if the channel continues to hold we could see it drop down to sub $1000
It looks like we may be headed to a head and shoulders pattern on the daily for $USOIL.
If this plays out we may be in for quite a ride down.
WTI Downward Trajectory to 43.80 support