For the 3rd week in a row, gold traders are bullish.
Can’t Keep A Good Market Down; Retail Investors, Market Analysts Bullish On Gold Next Week
Also for the third consecutive week, positive sentiment remains strong among retail investors, with more than 80% bullish on gold. This week a record 1,417 people participated in Kitco’s online survey. Of those, 1,213 participants, or 86%, are bullish on prices next week; at the same time 134 people, or 9%, are bearish on prices next week; and 70 people, or 5%, are neutral. In the last two previous surveys, 81% of respondents said they were bullish on gold.
While gold is getting a boost amid economic-growth uncertainty, most analysts are bullish on gold because of the technical progress it has made. Wednesday, for the first time since October, gold prices moved above the 200-day moving average and by Friday had pushed to a high of $1,164 an ounce, the highest price since Oct. 28.
Once again NUGT doubles in a few days.
COT is increasing... s/t overbought.
Can it digest these gains...or barf?
Edited by Rogerdodger, 05 February 2016 - 06:48 PM.