Gold COT Report - May 18, 2018...

Gold COT Report - May 18, 2018
http://news.goldseek.com/COT/1526671702.php

Fred Hickey - 6 hours ago
"COT Report: Huge (20%) large spec gold futures short contracts jump. Net long position(now just 92.4K) only lower twice since late-2015 bottom. In early 2016 (when gold soared, & early July 2017(gold up $140oz +12% in 7 weeks). All other gold rallies began with higher long levels.

Couple this with the extremely low sentiment for gold (at levels from which we've only seen significant rallies in recent years) and it tells us we're very close to a reversal and big rally. I'd guess no later than the Fed meeting in early June and maybe before.

This week's gold bash-down early in the week was driven by shorts only as there was no large spec long reduction in the COT report (in fact a slight increase). Shorts eventually cover.

The coming rally in gold should occur from a significantly higher starting point (another higher low) making that $1365 breakout point a lot easier to hurdle. Yes, silver acted like a champ this week.

Managed Money(MM) net long in COT just 19K contracts-lowest since 2016 explosion off gold bottom. All other rallies since began with higher positions. At short-term tops in 2016&2017 MMs had over 250K contracts. To reach 2016 top, MMs would have to buy gold contracts = to 785 tons!"
https://twitter.com/htsfhickey

Futures Technical Chart - Gold June 2018 Contract
https://www.barchart.com/futures/qu...)&sym=GCM18&grid=1&height=375&studyheight=100

How to Use the COT Report for Trading
https://www.seeitmarket.com/how-to-use-the-cot-report-for-trading-13285/