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Long

Blees rating on gold daily chart supporting the breakout

FX_IDC:XAUUSD   GOLD / US DOLLAR
307 0 10
The Commitment of Traders report (COT) was published at the close of last Friday's trade it always shows the Tuesday 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 . It supports the breakout from the triangle pattern , and the testback of the upper leg of the triangle.
Gold's bear market rally occurs when the Blees rating starting to fall from 90 to 70.
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