OANDA:XAUUSD CME Group gold futures market snapshot shows traders reduced their open interest positions in another session on Monday, this time by around 1.2k contracts. Volume followed and fell for the second straight session, currently nearing 50,000 contracts.
A good start to the week saw gold prices rise further on Friday amid shrinking volumes and open interest. That said, a continuation of the recovery doesn't seem to be in favor for the time being, instead allowing for some corrective moves. Meanwhile, the $1980 per troy ounce area still curtails bullish attempts from time to time.
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The strategy is active, everything is going according to my prediction and I am satisfied with it
Trade active
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Gold follows my prediction, and is in the buy signal zone