GOLD
Major buying at previous resistance now turned to support. That’s a $30+ lower wick in under 2 hours. High-volume fake-out below the weekly trend line support to load shorts and shake bulls - markets are always looking to take as few people possible along for the ride. Key thing to notice here is the highest volume is directly at the lows of each selloff. Bulls are looking to form a massive bullish engulfing on the daily pushing off the lower Bollinger band support - needs a break of $1960.20 for this to come to fruition. Two previous outside reversals on the daily near these same key levels (~$1940) tells me this is accumulation happening, as markets prepare for another attempt at a blue sky breakout. RSI and MACD both curling upward to confirm the continuation of the uptrend.
