#Gold Overdue On Short Covering
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.
Note
Still short, baby!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.