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Strategies & Market Trends : Ride the Tiger with CD

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LoneClone

To: dara who wrote (301623)	11/29/2023 1:02:16 AM
From: dara	1 Recommendation Read Replies (1) of 312290

COTS as of November 21, 2023 Santa Claus Rally? The commitment of traders report was delayed this past week due to the holiday in the US. A change from last week, the commercials increased their net short positions in gold and silver. Both changes were small. See here and here and here. Gold rallied last week and broke through resistance today on news that the Federal Reserve was a buyer on the latest US treasury auction. The HUI has also rallied over this past week and had a very strong move up today. Silver move has been stronger than the move gold has made and is now at the $25.30 level which is also past its resistance level of $25.00. Copper has continued its rally since mid-November. Today's news was the FM copper mine in Panama will suspend operations thus tightening copper supply. Platinum and palladium both bounced from their recent lows. WTIC is consolidating around the $75 - 76 level. Natgas continued its move down. Gareth Soloway still stands by his call that natgas is a buy for a short term trade from the $3.00 level. The US$ has been falling and is now at the 102.63 level. 102 is support for the time being. The yield on the 10 year US treasuries dropped made new lows for this move to 4.34. Of the market indices the DOW rallied the strongest with the SPX and QQQ consolidating at its highs. Conversely, the TSX dropped from its recent highs. Ed Steer's comments: On gold: "So it was a good news report in gold, but considering the price action since last Tuesday's cut-off, from a COMEX futures market perspective, gold is now firmly in bearish territory...but not extreme" On silver: " The set-up from a COMEX futures market perspective in silver is still very bullish, but obviously not quite as bullish as it was a week ago. " Disaggregated futures and options - combined report: cftc.gov Legacy Report: Futures Only Commodity Exchange Incorporated: cftc.gov

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