Based on the Commitments of Traders data reported on: January 30th'23
#GOLD retail have been adding shorts lately.
$USDWTI - daily supply held and dropped price. This supply needs removal in order for larger move higher.
NOTE: Remember what we’ve said with respect to the $USO and the massive supply in play.
$EURUSD Things are playing out very well for the $eurusd so far. We’ve been expecting to see the banks close their longs and that is taking place now.
(1) We have the daily momentum shift supply that was contacted and is the force pushing price lower.
(2) We next want to see the daily demand zone lower removed to provide new supply to base risk off of.
(3) Last we have a weekly demand zone at the bottom of price that needs to be removed to really get momentum going.
$TLT some longs were closed as price declined (totally normal) and some more shorts were closed as price declined. I would like to see price drop a little more to contact my limit order to add to my long position.
🔎📊 CFTC EXPERT ANALYSIS
🎩 Each week I will highlight a specific pair from the Araujo Report. The analysis will be a potion of what's made available to members.
S&P 500 we have a MAGIC zone created on the weekly chart which is basically a high probability area to enter in long the market. Only issue is the uptrend line is not high quality. No basing candles at the trend line contact in the valley.
(1) Long signal working very well so far.
(2) The demand zone would be lower risk to base long trades off of.