80% of Traders are Net-Long

80% of Traders are Net-Long


IG client sentiment on spot gold

GOLD: Increased Divergence Between Net-Longs and Net-Shorts Extends Short Bias

Spot Gold: Retail trader data shows 80.0% of traders are net-long with the ratio of traders long to short at 3.99 to 1. The number of traders net-long is 9.8% higher than yesterday and 16.5% higher from last week, while the number of traders net-short is 3.7% higher than yesterday and 23.5% lower from last week.

To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to “Identify Trends with Sentiment”:

Wednesday 00:00 GMT

Wednesday 12:30 GMT

Thursday 21:00 GMT

Tuesday 15:00 GMT

(click on one of the above times to enroll)

Gold Sentiment Suggests a Bearish Bias

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias.



Source link

admin