Always consider hidden risks
US GOLD Futures (GC) - Small Speculators: Shortest Position Ever ?
November 24 ( From Barchart, David Stendahll )
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COT ( Commitment of Traders ) - Small Speculators
As we can observe on the graph below, Small speculators had one of the biggest short position in Gold of the past 5 years for the week of November 17 2014. ( Blue line )
Small Speculators increased their short position from the week
of November 17 by 4.4k contracts for a total of 10.4 contracts,
the shortest position ever.
And til the end of November, seasonality for Gold are for a bullish trend.
(See second chart below)
Observe the falling weekly wedge pattern that started on July 2014.
For the week of November 24, support is at 1184.4 and resistance at 1219.5.
And til the end of November, seasonality for Gold are fror a bullish trend as you can see in the chart below.
US GOLD Futures (GC) - Small Speculators: Shortest Position Ever ? $MACRO, $STUDY, $GLD, $GC_F