Feb. 27th – XAUUSD

The lower boundary of the corrective channel got penetrated as suggested to call a top in place.
As I wrote in my last update, this top could be of a lower degree. Since the divergence in RSI is there but still above the 70s line I started an attempt to count the internals again – with the help of a low period SMA –
see handwritten labels. The projections I made would also match the middle line of the
green final channel.
Sarah