MidasTouchConsulting
Long

Gold - Weekly stochastic extremely oversold

FX:XAUUSD   Gold/U.S. Dollar
a month ago
When in doubt take a look at the bigger picture!

So far gold             has retraced a bit more than 38.2% of the rally from $1,045 to $1,375. This is the minimum condition for a healthy pullback. If it can hold around the current level ($1,250-$1,270) it is showing some real strength and hidden bullish divergence.
Looking at the slow stochastic it is extremely oversold and would need another two weak weeks before being able to embed. The much higher probability is a bounce in the next two weeks...
a month ago
Comment: here is my latest newsletter with in-depth analysis for gold & bitcoin...
http://bit.ly/2eNQO12
a month ago
Comment: commercials are now holding a much smaller short position at 1,273 (-217,599) than at $1,268 (-312,137) back in June .. ->> "a bullish divergence" in the Cot Report for gold...
Only you and me was long today...
lol
Reply
MidasTouchConsulting chartwatchers
a month ago
yes :-) but until US election might be difficult to break through $1,295/1,305.. we have to be patient..
I like the fact that our dear commercials are now holding a much smaller short position at 1,273 (-217,599) than at $1,268 (-312,137) back in June .. ->> "a bullish divergence" in the Cot Report for gold...
Reply
commercials are now holding a much smaller short position at 1,273 (-217,599) than at $1,268 (-312,137) back in June .. ->> "a bullish divergence" in the Cot Report for gold...
Reply
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