XAUUSD bullish

After gold has wiped out many pre-existing long positions and sold off since the beginning of this year, COT data is now showing net long positions.
Dollar index dxy still showing bearish pattern.
Bullish engulfing daily candle at 61.8 Fib level retracement, bottom of trendline channel, and 2020 support/resistance line all at low price 1687.