Initially revealed on Sat Dec 28 for members of ElliottWaveTrader.net: Once I peruse the feedback
Initially revealed on Sat Dec 28 for members of ElliottWaveTrader.net: Once I peruse the feedback on our Elliottwavetrader web site alone, I’m seeing a myriad of “beliefs” as to what the metals are doing and will likely be doing. Most of such beliefs appear to be pushed by emotions, and fairly plenty of them have been combating this metals rally. But, some are even pushed by numerous types of evaluation.
Of late, we’re seeing so many grow to be scared of the metals market as a result of COT report being so “bearish.” However, I’ve already handled this problem final week, but I’m going to repeat why that report is de facto of lesser consequence, particularly when seen relative to the construction of the market and help and resistance:
“In the event you have a look at the connected chart for the final 20 years, you will notice that in the course of the parabolic rally of 2010-2011 in gold, the industrial merchants had been closely quick gold. In reality, you’ll be able to see that in that total time period, industrial shorts remained at 200,000 or larger. But, that was throughout a time period the place gold rallied $800. For these counting in share phrases, meaning gold rallied 70%+…