It's usually a sign that we have reached the end of a rally when rates and the POSX both fall yet CDG does nothing. That's what happened on Friday and now we are seeing today what always comes next.
Again and as always, price rallies in Comex gold unfold in a manner of two steps forward and one step back. It's never straight up for weeks on end. Never. So we watch the daily charts and weekly CoT reports for clues. The pattern is almost always the same...
- Price stalls and is capped at or near some major resistance level
- The Banks add significantly to
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