EVN chart, page-1925

A two minute chart on gold from yesterdays aussie open paints the picture. A few forays at the $1900 level to test how much support was around then a blistering attack was launched at just after 3.30am to pound it back below $1900. Strange time to launch an attack but desperate times call for desperate measures.
Daily techs remain heavily overbought while weekly stochs remain stratospheric but pulling back slightly while remaining in an almost straight line upward trajectory which appears to be a bit odd. The longer time frame of the chart in regards to stochs the longer it takes to change the trajectory.
A daily chart below of the gdx shows the trend line break and retest then the bounce up through the previous high on Jan 5th. It is now retesting and consolidating (horizontal black line) in that area.

A daily on gold below indicates the recent divergent action between the gdx and the metal.
From my perspective gold needs to consolidate here and mimic the indices allowing it to work off the overbought tech structure.
We are moving into BIS options on Friday and they quite often like to get "active" around this time.

So we shall see.
Make of it what you will.