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Variety of merchants net-short has decreased by 18.59% from final week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
Gold |
BEARISH |
88.19% |
11.81% |
3.51%
6.72% |
-3.00%
-18.59% |
2.70%
2.94% |
Gold: Retail dealer information reveals 88.19% of merchants are net-long with the ratio of merchants lengthy to quick at 7.47 to 1. Our information reveals merchants at the moment are at their most net-long Gold since Jul 06 when Gold traded close to 1,739.01. The variety of merchants net-long is 3.51% greater than yesterday and 6.72% greater from final week, whereas the variety of merchants net-short is 3.00% decrease than yesterday and 18.59% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests Gold costs could proceed to fall.
Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger Gold-bearish contrarian buying and selling bias.
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