Variety of merchants net-short has decreased by 24.17% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
Gold |
BEARISH |
84.80% |
15.20% |
9.35%
-3.77% |
-36.14%
-24.17% |
-1.34%
-7.55% |
Gold: Retail dealer knowledge reveals 84.80% of merchants are net-long with the ratio of merchants lengthy to quick at 5.58 to 1. Our knowledge reveals merchants at the moment are at their most net-long Gold since Oct 30 when Gold traded close to 1,878.85. The variety of merchants net-long is 9.35% larger than yesterday and three.77% decrease from final week, whereas the variety of merchants net-short is 36.14% decrease than yesterday and 24.17% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests Gold costs might proceed to fall.
Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications offers us a stronger Gold-bearish contrarian buying and selling bias.