- XAU/USD
- GOLD/INR
1st charts indicates the bandwidth of the bolingers are going to open up.... means you can expect good amount of volatility, which is easily visible in the month of Dec when XAU/USD was toppin up at 1200
and in the 2nd chart which is GOLD/INR (on MCX), that indicates that GOLD in india was at a level of around 17,000, and now again, yesturday it almost touched the same level (16970), so a definite sell signal (and a resistance too) for india GOLD trader, and i believe when you are talking about sell signal for worlds largest gold consumer, then it should and would effect XAU/USD as well
In general technical terms, for XAU (GOLD) to turn a lil bearish before letting all the bulls to open up there horses we need two negative closes (again evident in the charts .... pls it is just a signal not a confirmation). We could expect one today, and we can also expect one tomorrow (tomorrow if not negative then could be a dull day) as trading in india is only for half day ... that mean low volumes ...
Kindly revert on the quality of analysis