CFTC Analysis: Are Banks Getting Nervous... or are they long now?
Gold CFTC and Technical Analysis
Gold CFTC and Technical Analysis
Contents:
GoldFix CFTC Trader Analysis and trader comments
MSA Technical Levels for Gold, Silver, and GDX
Sunday 5:30 p.m. Bottom Lines
One thing is known 99.9%
You don’t get a day/week/month/quarter close like that unless the BiS permits it. And the BiS only permits it when someone very big is playing.
My years of training tell me to be careful.. but the behavior, and the levels tell me to just be long
Best guess for last week:
Existing longs sold to shorts covering (both funds covering and maybe a bank bought, definitely a producer type as well)
historically speaking the whole thing smacks of smart fund money selling and the market keeps getting surprised by a bid that shows up right under the market. this is consistent with banks watching the show a little.
Who is that bid? Starting to think its banks now trading from the longside