Dantes Outlook
  • Market Intelligence
  • Past Insights
  • Long-Term Value

Week of August 5 to August 10, 2018

8/5/2018

 
I'm watching Gold this week as extreme negative sentiment could lead to a short-term bounce in the precious metal price. Net positioning in managed money (hedge funds and other professional investors) is at an all-time low in Gold, which means that short positions could start to unwind. Rising support from oversold levels were registered in small-cap gold miners (ETF: GDX), and Newmont Mining (NEM). Market uncertainty could trigger a safety bid this week, with the CBOE VIX Index still holding above 11.50 and the Japanese Yen (ETF: FXY) displaying a similar support pattern to gold ETFs. USD/JPY will need to confirm downside towards 110 to confirm support for the gold price. 
Picture
Picture
Picture
Picture
Picture
Picture

    Author

    Damanick Dantes, CMT
    ​Global Macro Trader

    Archives

    August 2018
    July 2018

    Categories

    All

    RSS Feed

Picture
Copyright 2025 / Dantes Outlook LLC
Content is for informational purposes only, not investment advice.
  • Market Intelligence
  • Past Insights
  • Long-Term Value