XAUUSD IS it ready for a trend reversal?

XAUUSD has been in a downtrend on the daily chart

however on the chart I see the basis band of the Bollinger Bands

( SMA20?) on a slow uptrend. Impartantly, the when price

is in the area of the basis band, volatility is increased. Price could

push threw it or bounce. The K line of the RSI indicator is

below the histogram and its slope is decreasing, indicating

that a potential reversal is slowly insuing. Price is below the

POC of the high volume area within the volume profile. The POC

tends to act as a magnet pulling price to itself which would be

an uptrend. Fedral calendar events tend to increase volatility.

All in all, I see a bullish scenario further supported by the cup

and handle disussed in another idea.


dropping