Looks EXACTLY like the December 2015 / January 2016 action in gold. Massive imbalance in the COMEX COT readings along with Ping-Pong price action by the Gold Cartel aka Bullion Banks / Wall Street just prior to LIFT-OFF (i.e., shaking out of all of the weak shorts and weaker longs). Getting VERY LONG Gold Futures in anticipation for a move possibly up to $1400 by year end. Gold sentiment could not be any worse. Perfect time for MASSIVE SCRAMBLE to cover shorts by trading funds.
評論:
Gold stocks seems to be breaking out ahead of gold this week. We will get a 8/16 EMA daily cross on XAUUSD at the NY close which is very positive moving forward. Once gold can decisively breakout over $1215, then the funds will start to aggressively cover their short positions.