Caution on Chasing Gold Gains as Crowds Buy
Trade Implications – Gold: There are currently more than two retail traders long Gold for every one that is short, and indeed that ratio has grown since last week. Our Senior Technical Strategist has advocated going long Gold as long as it remains above 1575, but retail sentiment suggests there is scope for short-term declines within the broader uptrend.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.