Gold Price Forecast to Hit Further Lows
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Gold– Heavily one-sided retail forex trader sentiment warns that Gold prices may continue to decline through near-term trading. Our trading sample shows that total open long positions outnumber those short by 2.5 to 1, and if ‘the crowd’ is long we prefer to be short. It would likely take a substantial swing in sentiment to shift us from our bearish trading bias for Gold prices.
See next currency section: EURUSD - Euro Nears Turning Point as Sentiment Shift
--- 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.