Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Gold – Retail forex traders continue buying aggressively into Gold price weakness, acting as contrarian signal that the precious metal may continue lower.
Trade Implications – Gold: As we wrote last week, “crowds have remained steadily long Gold prices since the precious metal traded below $1350 on October 28, and we anticipate continued drops until we see a significant shift in sentiment.” As long as crowds continue buying, we’ll favor further declines.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
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
- Commodity Markets
- Basic Materials Industry
- Gold price