Based on the Commitments of Traders data reported on: September 14th 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 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.
$EURUSD Daily momentum shift demand has been created BUT the monthly demand has been tested several times so this shift is not significant. Daily demand broke and price dropped.
#USD Dollar continues to react from supply and we are waiting for a downtrend on the daily chart to bring in some momentum.
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