Normally, ratio between nearest months should be stretched around the bottom of the strong down trend. You can use this indicator to support your decision to oil at the lower price.
I don't suggest to use CL1!/CL2! as leading data because the spread between this two contacts are very close and quite stable. I suggest you to use CL3!/CL4! and CL2!/CL3! instead....
Waiting for wedge breakout. In technical term, the possibility of break-down is much higher than break-up.
However, current fundamental that supports break-down is quite confuse because China is landing their economy softly while US is just starting up their engine.I just don't sure which factor affect gold price most.
