my trend line on daily silver has been great support. we bounced off this line in multiple time frames 30, 60 and 120 minutes. I continue to hold gold and silver longs here.
Zlecenie aktywne
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I am looking for test of $18.00 next week
Zlecenie aktywne
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gold very strong also looking for 1,37 next week
Komentarz
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1,337 on gold next week
Zlecenie aktywne
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on the commitments : I know many are trading with the commercials. That strategy is mainly only good on the turns. The specs push commodities higher or lower. This sponsorship is trend following normally daily/weekly. sponsorship looks BULLISH to me now on the metals. Silver the specs, commodity funds, CTA's, hedge funds and the like. are net long about 53,000 contracts. not long ago in April 2017 the specs were long 100,000 contracts. the commercials are now net SHORT about 66,000 contracts not long ago in April of 2017 the "smart Money" was short 110,000 contracts.
I am looking for another 2 to 3 weeks of saw-tooth positive action in silver to get to extremes in the positioning.
Longs stay long. New positions long look good to me
Zlecenie aktywne
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silver looking for 18.00 this week
Zlecenie aktywne
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add to long silver. $18.50 is the new target
Zlecenie aktywne
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stay long silver. I still see $18.00 and $18.50 possibly next week or within 2 weeks