Looking at the Commitment of Traders report, it appears that the banks have a high number of shorts open that they've been steadily closing. When they close more, it will drive price higher, then when they add longs, it will take us into the supply zone. At this point, it is a prime area for them to start adding short again.
All purely speculation based on what I'm seeing though, so we will find out over the coming weeks.
All purely speculation based on what I'm seeing though, so we will find out over the coming weeks.