Based on the Commitments of Traders data reported on: October 24th'23
#GOLD weekly supply is being penetrated through right now. This is significant but I don’t see bullish signals as of yet. We need to see the banks create a weekly uptrend before and sustained momentum would be expected. Daily chart has new key zone I’m watching. We also have daily supply in play.
$USDWTI - oil has price coming right into a significant supply zone. #Oil may be going up because of Middle East tensions and the supply may be used to drop price significantly.
$EURUSD 🎩🔎 $eurusd saw a nice rally from the 1.04's to the 1.05's - we contacted some 🐳🔴 institutional selling at 1.0618 which dropped price but not seeing any strong selling pressure as of the close on Friday. Wondering how serious that selling was, will it continue next week!?
$TLT three weeks of straight selling short positions from the banks is a really good sign. They dropped positions from 319k to now 229k, this is a significant reduction and I bet it’s retail picking up those shorts. Now we see the banks increase their longs significantly from 77k to 93k.
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