Technical Analysis

Gold: 70.6% of Merchants Are Internet-Lengthy

Gold

NET-LONG TRADERS ARE 94.four% HGHER FROM LAST WEEK

Spot Gold: Retail dealer knowledge exhibits 70.6% of merchants are net-long with the ratio of merchants lengthy to brief at 2.four to 1. The variety of merchants net-long is 9.2% larger than yesterday and 94.four% larger from final week, whereas the variety of merchants net-short is zero.1% decrease than yesterday and 97.three% larger from final week.

For extra in-depth evaluation, try the Q1 2019 Forecast for Gold

GOLD SENTIMENT SUGGESTS MIXED TRADING BIAS

We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests Spot Gold costs might proceed to fall. Positioning is extra net-long than yesterday however much less net-long from final week. The mixture of present sentiment and up to date adjustments provides us an additional blended Spot Gold buying and selling bias.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Observe Nancy on Twitter @NancyPakbazFX


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