While we get ready to take on the trading in the last month of this year, precisely what is transpiring in the Gold marketplace is unprecedented. Open Interest for Gold has collapsed, this folded Open Interest occurred only six times on COMEX exchange history!
In most cases, this type of failure in Open Interest moves hand in hand with a break down within the price of Gold, along with Silver together with their miners. However, this time around is definitely different, at least thus far.
This kind of collapse in Open Interest without having a matching plunge in the Gold price is unheard of. This unique setup profoundly signifies the price of Gold is getting ready to launch significant move higher, in spite of the bearish sentiment which has engulfed the Yellow metal market recently.
Gold resumed Stage 1 wait-and-see healthy posture as critical changes in financial marketplace characteristics seem to be developing. On Friday session though, the climate has swung back into a cautious mode, never the less, all of that has changed on Monday (Dec 3).
The Gold was up as much as $10 on the day at post time, while the metal is resuming its journey towards Mean Resistance $1233.50, and eventually to Gold Rally $1248 target in its two-phase Stage 1 move.
Trading Signals On Demand And What Should You Know!The TradingSig signals on demand of the Trade Selector Signal (TSS) system are based on functions such as measuring the rate and speed of price change, volatility, momentum, and harmonics. Then filter the noise and provide a forecast...