Gold has largely been the beneficiary of tighter financial conditions (see late 2017 and September 2018), and the dramatic net short positioning gave it room to run while traders unwound their shorts. The 5-year percentile on COT futures and options went from 0 to 46 (index 0 to 100).
However, as prices get towards the TACVOL intermediate top and volume trend is waning from a -2.56 sigma move today.
Taking advantage of profit taking to $1,227.
However, as prices get towards the TACVOL intermediate top and volume trend is waning from a -2.56 sigma move today.
Taking advantage of profit taking to $1,227.
Comment:
Still short, baby!
