Long term (daily) charts still are bullish. Channel positive, nicely above the 120 day moving average. Fed meeting showed dramatic central bank sells, trying to suppress the price of gold.
They threw massive amounts of short futures as Yellen spoke. To think we are in the 50's after that onslaught is way bullish for the metals. Silver punished as usual.
commitments had not a big percentage move but the wise guys bought 61,000 august futures as of last report.
this weeks report should be very telling. I am convinced to stay long in the channel. anything above on high 1240's.
They threw massive amounts of short futures as Yellen spoke. To think we are in the 50's after that onslaught is way bullish for the metals. Silver punished as usual.
commitments had not a big percentage move but the wise guys bought 61,000 august futures as of last report.
this weeks report should be very telling. I am convinced to stay long in the channel. anything above on high 1240's.
