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Samstag, 8. Oktober 2016

Adam HamiltonFollow(3,011 followers) Contrarian, gold & precious metals //


Gold suffered an anomalous futures-driven selloff this week. As the gold price drifted lower through key support levels, futures stop losses were triggered.
This automatic mechanical selling forced gold even lower, tripping more stops so futures selling cascaded. The resulting plunges in gold, silver, and their miners’ stocks shattered their young-bull-market uptrends.
But these bull markets are very much alive and well despite this technical carnage. Investors weren’t dumping gold, and extreme gold-futures selling is always short-lived.
Gold, silver, and their miners' stocks plummeted out of the blue this week, shattering their bull-market uptrends. Gold-futures speculators had been holding excessive long positions for months, weathering all kinds of selling catalysts. But once gold slipped through key support, long-side futures stop losses started to trigger unleashing cascading selling. Understanding this event and its implications is crucial for traders.

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