The confluence of technical is significant; a stop raid off the perceived double top last Friday. COT on my basic interpretation suggest that commercials currently quite heavily short will be covering as price starts to fall. Not sure if the OI is the leading bit but it is more on the downside suggesting it is net long now. This bit is a bit difficult to find clues.
The technicals are suggesting there is more downside to gold price. A few of the strong gold stocks are giving clues which one to back during GP weakness. Just got to be patient and not sucked into FOMO. I love NST fundamentals.
COT Gold Charts 2.0, page-47
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Last
$16.67 |
Change
-0.840(4.80%) |
Mkt cap ! $18.16B | |||
| Open | High | Low | Value | Volume |
| $16.86 | $17.00 | $16.60 | $17.86M | 1.063M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 864 | $16.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.68 | 1415 | 11 |
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| Last trade - 10.19am 02/12/2024 (20 minute delay) ? |
| NST (ASX) Chart |
