Silver - Uncharted territory
Updated
Last week Tuesday commercial long contracts were 87538, short contracts on the same day were 86121.
At the same time large speculators short contracts jumped from 7158 to 16598.
This is a rare moment when most of the commercials think there is no need to hedge production and hedge funds became very convinced silver is going lower.
I will be trading this with the commercials...
Though there is still chance that today or tomorrow they hit silver for a slightly lower low, but I want to be in a long position before the rally starts.
news.goldseek.com/COT/1535743594.php
A previous silver call based on the COT:
At the same time large speculators short contracts jumped from 7158 to 16598.
This is a rare moment when most of the commercials think there is no need to hedge production and hedge funds became very convinced silver is going lower.
I will be trading this with the commercials...
Though there is still chance that today or tomorrow they hit silver for a slightly lower low, but I want to be in a long position before the rally starts.
news.goldseek.com/COT/1535743594.php
A previous silver call based on the COT:
Note
Large specs incresed the shorts contract again this week by 8897 and decreased the longs by 3479 contracts. This resulted that large specs are in a 28974 contract short position. At the same time commercials decreased their short positions by 19313 contracts. So now the commercials are at the net long position of 14163 contracts.
In the last 20 years this never happened.
Note
Silver is breaking the down trendline and breaking out of the consolidation.Note
Note
We are in the new Intermediate cycle. The gains are going to be huge.Trade closed manually
I’m afraid it’s going to be a false breakout. I will collect the small gains here.
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