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Saturday, February 04, 2017 9:41:58 AM
* February 4, 2017
Following futures positions of non-commercials are as of January 31, 2017.
Gold: On Friday last week, gold bugs defended the 50-day moving average on the cash. This also approximated support at $1,185/ounce. So far so good. On the weekly chart, the cash has room to rally, with a fresh bullish MACD crossover.
The 200-day lies at $1,266.66. For the cash to rally that far near term, flows need to improve.
In the week ended Wednesday, GLD, the SPDR gold ETF, attracted $416 million. This was the second week of inflows in the past 12, during which the ETF lost $5.6 billion (courtesy of ETF.com).
Currently net long 119.2k, up 9.7k.
http://www.hedgopia.com/cot-peek-into-future-through-futures-81/
• DiscoverGold
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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