678 replies to this topic

[Smithy]

AUDUSD - reversal or continuation?

 

[Smithy]

This week's COT

Gold:

Since Jan 3rd at 73% the bullish % of gold small specs has DROPPED to 66%. The hedge funds are getting longer and the commercials hit an all time record high of 561,000 shorts, or 76% net bearish.

 

Silver

The small specs are shorting silver - a net 2,000 increase in small spec shorts.

Hedge funds added about 15% to longs, and the commercials took the other side, adding 15% to their short position.

 

Overall the gold and silver COT sentiment is not bullish while gold is up $103 in 2 weeks.

[Smithy]

[Smithy]

GSR currently soaring at 95. The ATH is 102.1  in 1991.

 

My bullish count for gold hangs by a slender thread. This morning's low of 1618 (!) ,is 56% retrace of the move up from 1562 to 1689. If the count fails, which seems imminent, it would appear gold will be correcting the entire upleg from 1181, spanning 18 months. A 50% retrace would give a target around 1450.

 

Applying the current GSR gives an equivalent target for silver of 15.26.

 

Comments welcome.

Edited by Smithy, 28 February 2020 - 07:56 AM.

[stubaby]

GSR currently soaring at 95. The ATH is 102.1  in 1991.

 

My bullish count for gold hangs by a slender thread. This morning's low of 1618 (!) ,is 56% retrace of the move up from 1562 to 1689. If the count fails, which seems imminent, it would appear gold will be correcting the entire upleg from 1181, spanning 18 months. A 50% retrace would give a target around 1450.

 

Applying the current GSR gives an equivalent target for silver of 15.26.

 

Comments welcome.

Both reasonable targets, IMHO

[linrom1]

GSR currently soaring at 95. The ATH is 102.1  in 1991.

 

My bullish count for gold hangs by a slender thread. This morning's low of 1618 (!) ,is 56% retrace of the move up from 1562 to 1689. If the count fails, which seems imminent, it would appear gold will be correcting the entire upleg from 1181, spanning 18 months. A 50% retrace would give a target around 1450.

 

Applying the current GSR gives an equivalent target for silver of 15.26.

 

Comments welcome.

Total retrace to $14

[Smithy]

Flag pole and pennant

 

[Smithy]

GSR looks like going higher...

 

[Smithy]

Silver could go to $15

 

[dougie]

12.50