Based on the Commitments of Traders data reported on: September 28th 2021
#GOLD Weekly chart continues to range and the bottom line is we need a weekly uptrend to form to enter long otherwise we wait. On the other hand monthly chart shows evidence that demand might break and cause a drop lower.
On the 3 month chart, we have always mentioned how we had a 3 month bearish engulf that
was formed and that we should keep an eye on that. Why? Because bearish engulfs typically signal a bearish move until a demand is contacted and with this chart only a switch zone was contacted.
#OIL Price reacting from the monthly demand now and we are seeing signs that we may be bottoming here and price may start a significant rally from these lows. Need to wait until weekly supply is removed before the momentum will kick in. (Weekly supply removed)
$EURUSD My focus on this chart will be on the monthly for there to be sustained momentum in either direction we need either supply/demand out.
#USD On this chart my focus is the weekly chart. Weekly downtrend for shorts and weekly uptrend for longs. These are the highest odds trade signals.
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