Pitchforking for Gold with an eye on the Funds!
GC1!
Looking for Gold to extend the rally and move towards the upper parallel of the long-term pitchfork. Currently looking to move towards the warning line of the downward sloping short-term pitchfork and the target will be the upper parallel of the upward sloping short term pitchfork. Historically, gold does not top until the Managed Money positions reach over 200K plus contracts and the Commercials short position reaches well over 400K. Look for the trend to continue upwards and keep an eye out for what the funds are doing.
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