chartwatchers

GOLD COT is turning to bearish

FX_IDC:XAUUSD   GOLD / US DOLLAR
188 0 11
The Commitment of Traders report (COT) was published at the close of last Friday's trade 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 GOLD's RALLY we had last weeks.
Gold's bear market rally occurs when the Blees rating starting to fall from 90 to 70.

Last Tuesday's (09.02.) COT data was published on Friday. It was 50.
Gold             had started the pullback. It's still a possibility that gold             will spike above 1163 for a short time but the correction is on the way. Though I think we are in the bull market now, but the young bulls are usually very wild and tricky.
Kicks both bulls and bears ...
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