Traders Short Gold for First Time Since January

| 25 april, 2013 | 0 kommentarer

ssi_xauusd_body_Picture_14.png, Traders Short Gold for First Time Since January - Bottom in Place

GoldA substantial shift in retail forex trading positioning leaves our proprietary Speculative Sentiment Index indicator short Gold versus the US Dollar (ticker: USDOLLAR) for the first time since January. We see distinct risk of further Gold price gains.

Trade Implications – Gold: Two weeks ago we wrote that it was not a time to catch falling knives as our retail positioning-based SSI warned of further gold price weakness. Yet retail sentiment has seen a substantial swing; long interest has fallen a remarkable 48 percent from its recent peaks while short interest has surged 159 percent through the same stretch.

The impressive swing in positioning warns that gold prices likely set a short-term bottom, but our Senior Technical Strategist believes this may be a good opportunity to sell Gold strength.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *