Martarchie

Martarchie

Gold failed to sell as expected. This gives a probability for a buy as institutions added more buys in their COT report.

Martarchie Updated 

Gold is testing a strong resistance level and we can see a head and soulder pattern forming. After an over extended bull run, we expect a retracement. COT Data shows Net positions has increased to the short side. I expect to see some shorting this week. Daily stochastics is overbought. All price action, technicals and COT Data point to a bearish trend this week.