Managed Money have jumped on board the momentum train long so are always vulnerable to some short term gaming. However, this time they are on the long side of the CB driven gold accumulation. Central Banks will continue to swap dollars for gold no matter the price.
This means that dips will be shallow and these stair steps will help price consolidate.
Looking at SI, Managed Money got rinsed of capped shorts which had built by them misreading the outflows of Comex OI and massive SLV outflows as bearish.
However, the Swa[p Dealers were also caught out by the large Gold rally catching them on the wrong foot. This saw them selling longs and?shorting silver rallies. The result of this was while they were able to 1/1 take the long side of every Managed Money naked short, the closing of long OI contracted the necessary OI for Swap Dealers to be able to short cover.
#gold #silver #goldtrading
Miami-Dade County Court Judge
3 周??????