Gold Futures: A deeper pullback seems unlikely
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Considering advanced prints from CME Group for Gold Futures markets, open interest remained choppy and shrank by around 5.5K contracts on Friday. Volume followed suit and dropped for the second session in a row, this time by almost 13K contracts.
Friday’s downtick in gold prices was accompanied by shrinking open interest, hinting at the view that the continuation of the corrective decline appears limited. Further weakness is expected to meet the next contention around the $1950 region per ounce troy.
[/s2If]
Join Our Telegram Group
