Based on the Commitments of Traders data reported on: March 5th'23
$GOLD price being pushed up by the banks. Retail offloaded some shorts but not enough to spark a drop in price. Not seeing this rally sustainable at this point.
$USDWTI - daily supply removed but no demand formed.
NOTE: Remember what we’ve said with respect to the $USO and the massive supply in play.
$EURUSD there is s a lot going on with this pair.
· Monthly chart remains bearish.
· Weekly, bullish because of tested weekly demand.
· Daily we should be watching for as supply was removed and new demand formed. Will it facilitate the monthly or weekly?
· 4H clearly upward trending for the time being.
$TLT I still have my orders to add to my long.
S&P 500 watching this monthly chart for signs of more upside to come.
🔎📊 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.
GOLD: Institutional traders have a BULLISH/NEUTRAL SENTIMENT
Force of Price
FORCES | Mn | Ranging | Wk | Ranging |
Overview: Price rallied aggressively and the banks increased their longs from 214k to a super aggressive 264k as shorts dropped slightly from 73k to 72k. Sentiment dips into bullish territory. These increases in longs are substantial but let’s remember that the supply/demand structures are not such that would provide support for a continued move higher, at this time. Watching for monthly close above previous highs and potentially the newly formed weekly demand to provide something of substance, if price was to retrace back to there. To the left of the weekly demand is a lot of trading which also suggests this zone is weaker.
