Tuesday, May 12, 2015

GOLD COT (Commitments of Traders) Weekly Chart

Here is a follow up to the prior gold COT chart a few days ago. Scroll back or type gold in the search box to bring that up for further study. Gold is staggering sideways through 1180-1210 for the last two months. The bars above were moving sideways for the last analysis for the COT chart and the idea was to wait and see if the next bar moves up, or down. As seen above, the maroon bar moves up and the blue bar down for the last week. This sends gold closer to a bottom rather than moving towards a top. The green circles show prior bottoms in gold prices and red circles are the tops in gold price. The expectation would be that gold recovers from here forward call it sideways to sideways higher for the weeks ahead but keep an eye on the COT every few days. COT charts are lagging and as much as one week or so behind the actual gold price move.  Gold is currently steady at 1183. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note: Excellent COT charts are available at COT Price Charts. The above gold chart is annotated by Keystone.

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