Massive Explosion UP; Gold Cartel Tactics playing "Ping-Pong"

FX:XAUUSD   Gold Spot / U.S. Dollar
Looks EXACTLY like the December 2015 / January 2016 action in gold . Massive imbalance in the COMEX COT readings along with Ping-Pong price action by the Gold Cartel aka Bullion Banks / Wall Street just prior to LIFT-OFF (i.e., shaking out of all of the weak shorts and weaker longs). Getting VERY LONG Gold Futures in anticipation for a move possibly up to $1400 by year end. Gold sentiment could not be any worse. Perfect time for MASSIVE SCRAMBLE to cover shorts by trading funds.
Sep 19
Comment: Gold stocks seems to be breaking out ahead of gold this week. We will get a 8/16 EMA daily cross on XAUUSD at the NY close which is very positive moving forward. Once gold can decisively breakout over $1215, then the funds will start to aggressively cover their short positions.
For whatever reason, the selling continues and gold is not yet able to breakout over $1210-$1215 range. Try to maintain a bullish position here but if Gold is unable to hold $1190 on a closing basis, then that's a really bad sign and plan to ditch long positions..
I agree with your idea!
Gold also has a very STRONG weekly WaveTrend BUY signal as well. Just don't turn into a goldbug and forget to sell when its gets into the RED overbought zone.

Hey how did you get the CM COT to work on XAU/USD?

Also great analysis - long GDX Jan 2019 calls, 50 contracts. RIght here with you
kaotic363 Thor303456
@Thor303456, Add this indicator: -> Then on "inputs" selection, use GC for the COMEX Gold Contract COT
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