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