Gold going higher
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Retail actually decreased their long exposure by 1,700 contracts. Technical analysis while normally good in the short term is being run over by conditions geo-political. Especially the crypto currencies.
I hold Bitcoin, ethereum, litecoin and Monero. Today Monero up $27.00 to $81.00 plus,... 51% on big volume. Bitcoin cash thru the roof. We are not in normal times. A year ago if anyone would have told you Bitcoin
would be over $4,000.00 you would have taken that bet 1,000 to one. Option writers (if there was a class, like S&P) would have been wiped out.
All this said. You can't short gold or Silver here.
Fear is three times stronger than greed.
Yes the Central banks will print and try to sell GLD down. Put every time they do it's meant with massive buy order. China seeking to have Hong Kong settle gold in Yuan. Their reserves way more than anyone imagines.
Gold will test 1,300 again this week. if we close above 1,300 on friday, Next Monday is going to be wild.
Call open interest is at 10,394 on the 1,310 strike. this is the magnet. i see the close next monday right at this strike.
Trade ist aktiv
gold hugging my dotted trend line. It's the magnetstay long
Trade ist aktiv
we are hugging my trend line. Option expiration may be big this time. 1310 is still my target for Tuesday that's basis December futures not cash.Monero is on fire.
stay long metals
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