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Strategies & Market Trends : Ride the Tiger with CD

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LoneClone

ralfph

To: dara who wrote (303043)	3/18/2024 6:10:21 AM
From: dara	2 Recommendations Read Replies (1) of 312307

COTS as of March 12, 2024 Silver & Copper Make New Highs While Gold Pulls Back and the HUI Consolidates New Highs for the TSX While the DOW, SPX & QQQ Rest Once again the commercials increased their net short positions in both gold and silver. See here and here and here. Gold pulled back from its all time high of $2,185.50 closing the week at $2,161.50. Gold is no longer overbought. The HUI made a new high for this move and is just above its 200 dma. It is not in overbought territory. Silver made a new high for the move closing the week at $25.38 up from last week's close of $24.55. Copper was very strong this week closing out at $4.12 from last week's close of $3.89. It is now in overbought territory. Platinum moved up from $914.80 to $943.50 and is sitting on its 200 dma . Palladium also moved up from $1,025.30 to $1,090.30 and is working up to its 200 dma. WTIC broke out above the $80 mark moving up from $78.01 closing the week at $80.50. Natgas moved down from $1.81 to $1.65. WTIC is sitting just above its 200 dma. In contrast natgas is well below its 200 dma. The US$ popped from last week's close of 102.69 to 103.39 but is trading below its 200 dma. The yield on the 10 year US treasury also moved up from last week's close of 4.09 to 4.31. On Wednesday the TSX made a new high while the DOW, SPX and QQQ consolidated just below their recent highs. RSI continues to diverge for the DOW, SPX and QQQ and it may be turning for the TSX. The TSX is very close to making a double top of its all time highs made in April 2022. Check out the 5 year chart included at the bottom of this post. Ed Steer's comments: On gold: " The set-up in gold from a COMEX futures market perspective remains bearish, but has improved a bit from Tuesday's cut-off." On silver: " The set-up from a COMEX futures market perspective remains bullish ... " Disaggregated futures and options - combined report: cftc.gov Legacy Report: Futures Only Commodity Exchange Incorporated: cftc.gov

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