Gold Long: Weekly Demand

Gold has been weakening as a result of USD strength and some seasonality. With large institutions at their extreme low point of long positions and extreme short positioning, Gold can't drop much longer.
Non-commercials have already started building their long positions based on the COT-Legacy report. The Other Reportables in COT-TFF report are also at a very extreme long positioning which typically signals a reversal coming.
Starting few long trades in this zone.

Trade with care.
Zack

Kommentar:

SL hit but added more longs on the new drop