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Re: DiscoverGold post# 38324

Saturday, 03/18/2017 10:06:30 AM

Saturday, March 18, 2017 10:06:30 AM

Post# of 43725
• • • Peek Into Gold Future Through Futures • • •

* March 18, 2017

Following futures positions of non-commercials are as of March 14, 2017.

Gold: Currently net long 106k, down 27.6k.



Support at $1,180 held. The cash dropped intraday last Friday to $1,194.5. That was a doji session, followed by another this Tuesday. These ‘indecision’ candles preceded a 0.9 percent jump this Wednesday, when the Fed supposedly delivered a ‘dovish’ hike.

In February, gold bugs had difficulty taking out and then staying above $1,240-ish. In fact, the metal rallied all the way to $1,264.9 on February 27 before getting repelled by the 200-day moving average. Resistance at $1,240-ish likely gets tested again.

In the week ended Wednesday, flows trend improved. GLD, the SPDR gold ETF, attracted $102 million, but more importantly, in the first three sessions this week it pulled in $550 million (courtesy of ETF.com).

http://www.hedgopia.com/cot-peek-into-future-through-futures-87/

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!
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