Gold Prices Show Signs of Life, May Recover Further
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
GOLD –Forex 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 GOLD – The 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
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.