COT Gold Report - Positions as of Tuesday, October 13, 2020.
Daily Gold chart shows the swing lines, which helps to define the trends. Right now we have a bullish daily set-up for Higher-lows and higher-highs.
Today we are taking our weekly look at the charts for gold and silver.
As it stands right now, the next two weeks will provide us with the information to make decisions about the path the market will take to our next target in the 4000-4250SPX region
Political games with stimulus continues. Gold $1890 area support. Daily gold chart is neutral.
Gold daily's chart shows no trend. I think big buyers are buying at 18-week moving average.
Brexit issues, second wave of covid and US presidential elections are still the short term positive factors form gold and silver.
Silver market is getting strong and this is good news for base metals.
It is starting to look like September 24th was the bottom of everything. Gold on Friday broke its downtrend, negating the $1800 target. Video update
$1,880 on the weekly 18-week moving average support, Gold $2,040 area the Bollinger resistance on the weekly.. video update
