Simple's Green Room

[Heavyweight]

OK Jav, my interpretation of AU.... Aside from counting waves which I think most of us are still learning, AU is currently sitting under a weekly trendline and weekly resistance. It's also tagged the 78.6% Fib and sitting under the added 70.7% Fib. The prior move up had a 61.8% retrace but so far it's failed to make a new high. IMO I'm leaning short unless we see a huge bull bar that breaks through topside which of course anything is possible. I'll post another chart shortly to also show you why I'm short leaning.