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Will Gold find some support near 1200?


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#1 Rogerdodger

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Posted 09 July 2017 - 09:20 AM

Here's the COT report for July's first week.

I find little predictive value in the COT, other than some extremes. They seem to follow price.

However Large Specs and others are at a level which has often seen reversals in price.

Gold needs a consolidation week like the 2nd week of May.

If it occurs, I could see a double bottom next week, or even dip below 1200 followed by an effort back up.

 

Speaking of May: Speculators cut net long U.S. dollar bets to lowest since mid-May

FYI:

Gold_2017.07.jpg


Edited by Rogerdodger, 09 July 2017 - 09:31 AM.


#2 Rogerdodger

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Posted 09 July 2017 - 09:26 AM

Will seasonality have a chance against monetary policy?

 

The Golden Age Has Just Begun - Dimitri Speck

Gold begins to rise in early July

The seasonally strong period is highlighted in dark blue on the chart. It begins on July 6 and ends on February 24 of the following year.

The average gain of the gold price in the seasonally positive time period amounted to 8.62 percent, or 13.90 percent annualized.

 

fig1.png



#3 johngeorge

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Posted 12 July 2017 - 10:01 PM

Rogerdodger

 

"Will seasonality have a chance against monetary policy"

 

I think there is a better chance for seasonality this year than there has been in sometime.  I am betting India will be coming on strong.  

 

Thanks for the post.  You have been bringing good stuff for many a year! smile.png


Peace
johngeorge

#4 dougie

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Posted 12 July 2017 - 10:04 PM

indeed