1. The Gold rises from 2008 to 2011 top, because it was fueled by MBS bond collapses. In fact, MBS collapse is a tiny portion of the entire Bond market and derivatives.
2. 2011 is the top of Gold . From then on, Gold was in a .
3. The was officially broken this July 2017 and rallied to Sept top. We are heading for probably 1/2 year of Trading Range from 1376 to 1226 for consolidation and accumulation phase.
4. Any Bear shorting on Gold is playing for Trading Range from 1376 - 1226.
5. The Bulls are not buying at this moment, because the Algo are waiting for (Retest the trend/Ceiling test) at 1226 range. It is no point for bulls to buy, when you can buy it at the at 1230 - 1250 Dollar cost average down
6. analysis- The Commercial are heavily short on Gold . The shows no sign of the removal. Keep in mind that the Comex are overhedged. Simply in English terms, Commercial are shorting for 2 years of Gold consumption. That is assume no one is buying Gold in the US Denominated asset for 2 years. The Comex warehouse just couldn't honor that much of the supply. This is a powder keg, ready to explode in the upside.
7. According to Price Action and analysis, I am looking for explosion in Gold , based upon the Short Squeeze (according to the report)