24 days ago • Posted by Jasper Lawler
COT Report: Gold positioning "is a bullish setup" - Shedlock
Managed money started unwinding contracts (long liquidation) in February 2020 yet the price of gold, albeit with one dip, exploded higher.
That was a very bullish setup.
Current speculator positioning is nowhere near extreme. Their position is building and the price is rising.
This is a bullish setup. Those who expecting another washout (blue box) and waited for it missed much of the move.