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Gold Prices Show Signs of Life, May Recover Further

Gold Prices Show Signs of Life, May Recover Further

David Rodriguez, Head of Product
ssi_GOLD_body_Picture_18.png, Gold Prices Show Signs of Life, May Recover Further

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GOLDForex trading crowds have sold aggressively into recent Gold price bounces, and our trading bias on the precious metal may soon turn bullish on a bigger shift in herd sentiment.

Trade Implications GOLDThe crowd remains net-long Gold versus the US Dollar as they bought aggressively into the break below $1390. Yet long interest is down 25 percent since last week while short positions are up by the same amount. Our Senior Strategist writes that a move above $1335 would indeed reverse our earlier calls for further Gold price weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_GOLD_body_Picture_10.png, Gold Prices Show Signs of Life, May Recover Further

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