SILVER COT May20# Stock
N*n
1 楼
Gold: Not much changed from last update so no new coverage.
Silver: Like I said two weeks ago, silver is not as bearish as gold
COT-setup-wisely. You can see on the commercial short BollingerBand
chart it's getting closer to the lower band. Bank & Prod group net
short position is even lower than that of the 2008 low. HFund group
is close to net short.
Such setup in a metal friendly environment would be very bullish but
we are in a metal slump season instead.
Interestingly the two speculative camps are battling each other. HFund
has become bearish while Retail stays bullish. HFund in particular has
been building their shorts since Feb swing high. Notice their short
has changed from normal 9xxx to a historically high of 33xxx short
contracts. Their long position stayed static mostly during the period.
One of the two spec groups will be wrong, and I think it'd lead to a
quick 10% move in EITHER direction initially.
Silver: Like I said two weeks ago, silver is not as bearish as gold
COT-setup-wisely. You can see on the commercial short BollingerBand
chart it's getting closer to the lower band. Bank & Prod group net
short position is even lower than that of the 2008 low. HFund group
is close to net short.
Such setup in a metal friendly environment would be very bullish but
we are in a metal slump season instead.
Interestingly the two speculative camps are battling each other. HFund
has become bearish while Retail stays bullish. HFund in particular has
been building their shorts since Feb swing high. Notice their short
has changed from normal 9xxx to a historically high of 33xxx short
contracts. Their long position stayed static mostly during the period.
One of the two spec groups will be wrong, and I think it'd lead to a
quick 10% move in EITHER direction initially.
