The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current report.
We inserted the Blees rating into the .
The last Blees rating numbers (28) are showing that commercials were still heavily short in gold this week Tuesday.
Though commercial short position has been decreased again: it is 23.756 less than last Tuesday.
The Blees were 28 Tuesday , it has been turning up but not big change.
(I noticed when the blees is turning down from 100 or turning up from zero the real decline/ rally is getting started. )
The blees rating at 28 is still showing to the lower prices.
(When blees will be between 50-70 that will show that longer term direction change is coming.)
I The problem that we don't know the COT/blees number after yesterday's big pop. The next number will come out next Friday showing 07.06. data. So the will not be in our help in next week's decisions.
Gold_COT reports source: http://news.goldseek.com/COT/1464982299.php
Commercial shorts-commercial longs= X
X-last 2 years minimum X number=Y
Last 2 years maximum X- Last 2 years minimum X =Z