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TFC Commodity Trading Forum

Re: Weekly USD Index COT Report at Extremes *DX We

Thanks for the link etc. Also notice how short the Commercials are on Gold.161k long but 327k short and growing. Both DX and Gold have been traveling in the same direction recently rather than trading inverse to each other. So perhaps 'both' are going to sell off soon. Commercials have very deep pockets and these extremes can remain intact for a long long time so we can't hold our breath waiting for it. But as I've posted a few times now that 81.50 'area' has seen DX spinning its wheels there for the last 6 days without much follow through. So far it is the picture of health bouncing off its rising 20ema but overbought somewhat with a negative divergence on some oscillators. And January is historically the strongest month of the year for DX. The charts on Silver are very weak any way I look at them. Price has to clear $30 with some conviction to suggest even a bounce of significance. And Gold is now trapped between 1625 and 1670. And GDX and GDXJ and ABX are not doing all that well either and need to lead along with Silver to suggest anything strong on the upside. But with a heavy long position on DX and everyone and his dog short the Euro some unexpected good news out of Europe is likely just to blow the socks off so many if for no other reason. But the precious metals might just go along with DX like they have been too. Price is king and the precious metals and their stocks just are not impressing me at all. Then again I do tend to be too fussy,lol.