GOLD - COMMITMENT OF TRADERS REPORT (14TH JUNE)
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 (0) are showing that commercials were more heavily short in gold this week Tuesday than last week Tuesday. Commercial short position has been increased again: it's nearly 55.000 more than last Tuesday ( 356.632 ---} 411.358 ). Last week the net commercial short position increased by 30.000 because the long commercial contracts dropped by 20.000. This week the commercial long contracts almost the same as last week, only the short commercial positions increased . So all the commercials who closed their longs last week opened almost a triple amount of short positions what they 've closed last week...
The Blees were 0 Tuesday . The blees rating at 0 is showing to the lower prices. Retail and the large specs are in war now with commercials. Commercials are hedging production and they will continue to push down price till it tags the 200 EMA or 200 SMA.
We had a test on Thursday what would happen with a brexit poll postpone. You could taste the power of 411.00 commercial short . How would a "UK stays in EU" candle look like??? 80$ red candle maybe?
I've been reading on many website that commercial will have a short squeeze, the bearish pin bar on Thursday is meaningless etc. Guys, commercials are not stupid. They will not have a short squeeze after they've increased their shorts by 60.000...
And one more thing regarding Brexit. Do you really think the average Englishmen will make a decision in such an important question to stay or leave the EU ??? Come on. The EU was the most important step of Europe in the last 100 years. These nations were in war 60 years ago. This union is the only chance for the Old Continent to stay in the game against USA, China etc. Do you really think they will let it fall into pieces??? If they didn't let Greece to leave they will not let UK to leave. This is just a summer show. Enjoy. Will not last for too long.
The blees rating at 0 means to me that gold is not ready for the next intermediate rally. Even if we don't have the panic selling at least we are going to go down to near 1200 one more time in the following 2 weeks.
Gold_COT reports source: news.goldseek.com/COT/1466191906.php
Formula for counting the blees number:
Commercial shorts-commercial longs= X
X-last 2 years minimum X number=Y
Last 2 years maximum X- Last 2 years minimum X =Z
Blees= Y/Z*100
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 (0) are showing that commercials were more heavily short in gold this week Tuesday than last week Tuesday. Commercial short position has been increased again: it's nearly 55.000 more than last Tuesday ( 356.632 ---} 411.358 ). Last week the net commercial short position increased by 30.000 because the long commercial contracts dropped by 20.000. This week the commercial long contracts almost the same as last week, only the short commercial positions increased . So all the commercials who closed their longs last week opened almost a triple amount of short positions what they 've closed last week...
The Blees were 0 Tuesday . The blees rating at 0 is showing to the lower prices. Retail and the large specs are in war now with commercials. Commercials are hedging production and they will continue to push down price till it tags the 200 EMA or 200 SMA.
We had a test on Thursday what would happen with a brexit poll postpone. You could taste the power of 411.00 commercial short . How would a "UK stays in EU" candle look like??? 80$ red candle maybe?
I've been reading on many website that commercial will have a short squeeze, the bearish pin bar on Thursday is meaningless etc. Guys, commercials are not stupid. They will not have a short squeeze after they've increased their shorts by 60.000...
And one more thing regarding Brexit. Do you really think the average Englishmen will make a decision in such an important question to stay or leave the EU ??? Come on. The EU was the most important step of Europe in the last 100 years. These nations were in war 60 years ago. This union is the only chance for the Old Continent to stay in the game against USA, China etc. Do you really think they will let it fall into pieces??? If they didn't let Greece to leave they will not let UK to leave. This is just a summer show. Enjoy. Will not last for too long.
The blees rating at 0 means to me that gold is not ready for the next intermediate rally. Even if we don't have the panic selling at least we are going to go down to near 1200 one more time in the following 2 weeks.
Gold_COT reports source: news.goldseek.com/COT/1466191906.php
Formula for counting the blees number:
Commercial shorts-commercial longs= X
X-last 2 years minimum X number=Y
Last 2 years maximum X- Last 2 years minimum X =Z
Blees= Y/Z*100
Comment:
Gap down open. Whole Friday candle was erased immediately.
Comment:
1278 will be broken down tonight.
Comment:
Does anyone see exact volume? How many contracts were dumped?