Gold is coming to support level at 1322.00 so i will monitor if the price will bounce from that level or breaks it and moves lower.
Retail trader data shows 69.0% of traders are net-long with the ratio of traders long to short at 2.23 to 1. The number of traders net-long is 3.9% lower than yesterday and 4.6% lower from last week, while the number of traders net-short is 6.5% higher than yesterday and 6.6% lower from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Gold trading bias.
Retail trader data shows 69.0% of traders are net-long with the ratio of traders long to short at 2.23 to 1. The number of traders net-long is 3.9% lower than yesterday and 4.6% lower from last week, while the number of traders net-short is 6.5% higher than yesterday and 6.6% lower from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Gold trading bias.