MidasTouchConsulting
Long

Gold - Weekly stochastic extremely oversold

FX:XAUUSD   Gold / U.S. Dollar
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...
Comment: here is my latest newsletter with in-depth analysis for gold & bitcoin...
http://bit.ly/2eNQO12
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...
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
Only you and me was long today...
lol
Reply
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
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out