What are you seeing Seth? Just have a funny feeling NY might let this pop sometime soon. COT is mirroring previous recent tops, but also reminiscent of June 2016 break above 1300 where commercials just continued to add shorts as it moved above 1350. Pinched your chart below.
Perhaps recent history suggest a move lower but I see nothing stopping gold pushing through resistance other than a massive concerted shorting effort on the commercial part. They seem to have a very skewed trading philosophy with gold and no wonder ppl cry manipulation. Who but Central banks and biggest investment banks can afford to short when gold futures run $100 on 1% margin without closing on mass? We are talking billions.
Or put it this way... if they were actually in it to make money they would join the spec longs and ride it to 1500+ and then pile in short?
Apologies, actually wasn't meant to be a rant
What are you seeing Seth? Just have a funny feeling NY might let...
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