Replies to post #677 on Gold Miners ETF (GDX)

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Peek Into Gold Future Through Futures

* February 25, 2017

Following futures positions of non-commercials are as of February 21, 2017.

Gold: Resistance at $1,246 was taken out Thursday, after the cash went sideways for two weeks around its 10-day moving average. This was a price level off of which the cash rallied in October last year. The 200-day moving average ($1,264.59) is merely 0.5 percent away, and should be tested next week. After that, gold bugs would love to test a declining trend line from July last year, which will occur around $1,280.

For that, flows need to cooperate. In the week ended Wednesday, GLD, the SPDR gold ETF, lost $95 million. This followed $1.8 billion in inflows in the prior three (courtesy of ETF.com).

Currently net long 123.8k, up 14k.



http://www.hedgopia.com/cot-peek-into-future-through-futures-84/

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