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Photo credit: & copy; 2018 Bloomberg Finance LP
© 2018 Bloomberg Finance LP
Gold has run well, but it seems to be about to regress. This gathering had an effect on feeling, turning bears into bulls. Judging by the polls, while optimism was so high in the past, gold had a very high probability of being lower one to three months later. The bullion price hike has also affected trade. The hedgers hold 40% of the net open interest short, a condition that caused losses in the next three months two-thirds of the time.
The price action adds to the evidence. Friday, the course broke through the resistance of $ 1345 in intraday but failed to maintain the gain, closing at the bottom of the day, a rise of about $ 10. In fact, the price of gold reaches a resistance level higher than that of the weekly and monthly cycles. This alone leaves a doubt that gold will burst on the rise. I add that the US dollar cycle is at a low ebb.
The elements of a summit are developing. Reduce gold holdings.
Graph 1: Gold at resistance levels
Gold is against resistance.
Cycles Research Investments LLC
Chart 2: Weekly cycle of gold
The weekly cycle is in peak.
Cycles Research Investments LLC
Chart 3: Monthly cycle of gold
The monthly cycle is also in the lead.
Cycles Research Investments LLC
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Photo credit: © 2018 Bloomberg Finance LP
© 2018 Bloomberg Finance LP
Gold has run well, but it seems to be about to regress. This gathering had an effect on feeling, turning bears into bulls. Judging by the polls, while optimism was so high in the past, gold had a very high probability of being lower one to three months later. The bullion price hike has also affected trade. The hedgers hold 40% of the net open interest short, a condition that caused losses in the next three months two-thirds of the time.
The price action adds to the evidence. Friday, the course broke through the resistance of $ 1345 in intraday but failed to maintain the gain, closing at the bottom of the day, a rise of about $ 10. In fact, the price of gold reaches a resistance level higher than that of the weekly and monthly cycles. This alone leaves a doubt that gold will burst on the rise. I add that the US dollar cycle is at a low ebb.
The elements of a summit are developing. Reduce gold holdings.
Graph 1: Gold at resistance levels
Gold is against resistance.
Cycles Research Investments LLC
Chart 2: Weekly cycle of gold
The weekly cycle is in peak.
Cycles Research Investments LLC
Chart 3: Monthly cycle of gold
The monthly cycle is also in the lead.
Cycles Research Investments LLC
