GOLD - Commitment of Traders report

FX:XAUUSD   Gold Spot / U.S. Dollar
2121 22 54

I haven't posted the COT numbers for a long time now... It's time to take a look at that now.
The Commitment of Traders report ( COT ) is published at the close of every Friday's trade and it always shows the Tuesday COT data.
The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report.
We inserted the Blees rating into the daily chart .

The last Blees rating numbers (near 0) are showing that commercials are heavily shorting the gold             market.
The commercial short position has been raising for a few weeks now. It was at 413.000 (!!!) last Tuesday. This is a horrible number.
I think on the 24th May the Blees will be above 10, so it's turning up from zero (Last Tuesday it was 3)
I noticed when the blees is turning down from 100 or turning up from zero the real decline/ rally is getting started.

This COT data/Blees rating numbers are crying for a correction. I doubt that most of the bulls are prepared the decline what these numbers are predicting. Everybody and his his dog plus his wife is short at the commercials....
My first post in January was the COT report as well which predicted the monster rally in gold:

Would like to see more of these, seems like it did work in this time on this chart
When would be a good time to buy JDST?
chartwatchers Cheetsbaby84
Same as DUST. Last week was the perefect entry point. But today is good also.
Just place your stop below 14$ and wait 2-3 weeks.
I post when I jump out of DUST the same exit should be JDST. They are moving together.
+1 Reply
sir what do you think about silver? how far down it can go?
chartwatchers LalitGurnani
I try to check it this week. If you are short in that probably you have a few weeks to ride it.
+1 Reply
Hi Arpi! I enjoy reading your work.. It falls right in line with Gary Savage who also specializes in Cycle Analysis and Market Sentiment. I subscribe to him as well; you should check out his free Blog -- incredibly insightful :o)
THX , I'm going to check him.
+1 Reply
Don't think we will print a lower low. We've taken out 2 intermediate tops and tagged the 3rd one.
Tha maximum decline is around 1100
+2 Reply
mabaert chartwatchers
if you would not expect a new lower low, how would you advice on current shorts? Take profit now and get back in later on? Or keep the current shorts (shorts from 1.254,96) and let it ride?
+1 Reply
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