• Home
  • Contact
  • Privacy Policy
  • Store
my forex coaching
  • For Beginners
  • Strategies
  • Crypto
  • Technical Analysis
  • Stock Trading
  • Product Reviews
  • News
  • Videos
No Result
View All Result
  • For Beginners
  • Strategies
  • Crypto
  • Technical Analysis
  • Stock Trading
  • Product Reviews
  • News
  • Videos
No Result
View All Result
my forex coaching
No Result
View All Result
Home Alerts

Retail Traders Increase Bearish Bets, a Bullish Sign?

Forex Tips by Forex Tips
April 25, 2023
in Alerts
0
Retail Traders Increase Bearish Bets, a Bullish Sign?
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Gold, Silver, Retail Trader Positioning, Technical Analysis – IGCS Commodities Update

  • Gold and silver prices have been consolidating in recent days
  • Retail traders are increasing short exposure, a bullish sign?
  • Technical posture remains intact as key support levels hold

Recommended by Daniel Dubrovsky

Get Your Free Gold Forecast

In recent weeks, gold and silver prices have been struggling to find the momentum to resume the broader upside trajectory since bottoming last year. From a technical standpoint, while some bearish signals have emerged, the broader upside focus remains. But, from a positioning standpoint, perhaps there is continued support for upside progress.

This can be seen by looking at IG Client Sentiment (IGCS), which tends to be a contrarian indicator, especially in trending markets. In recent days, it seems retail traders have been increasing their downside exposure in gold and silver. Is this a sign that further gains might be in store?

Gold Sentiment Outlook – Bullish

The IGCS gauge shows that about 58% of retail traders are net-long gold. Since most of them are biased to the upside, this hints that prices may fall down the road. But downside exposure increased by 11.66% and 10.04% compared to yesterday and last week, respectively. With that in mind, recent changes in exposure hint that prices may soon resume higher.

Gold Sentiment Outlook - Bullish

XAU/USD Daily Chart

On the daily chart, gold broke under the 20-day Simple Moving Average (SMA). This followed the emergence of a Bearish Engulfing candlestick pattern, increasingly opening the door to extending downside progress. But, confirmation of the 20-day SMA breakout is lacking after the midpoint of the Fibonacci extension at 1977 held. This is maintaining the near-term upside bias. Extending lower exposes the 100-day SMA.

Recommended by Daniel Dubrovsky

How to Trade Gold

XAU/USD Daily Chart

Chart Created in Trading View

Silver Sentiment Outlook – Bullish

The IGCS gauge reveals that 51% of retail traders are net-long silver. Since traders are net-long, this hints price may keep falling. But, net-short exposure has increased by 7.87% and 171.66% compared to yesterday and last week, respectively. With that in mind, recent changes in exposure warn that the current price trend may soon reverse higher.

Recommended by Daniel Dubrovsky

Improve your trading with IG Client Sentiment Data

Silver Sentiment Outlook - Bullish

XAG/USD Daily Chart

Silver prices also face the downside risk of a Bearish Engulfing candlestick pattern. But, unlike gold, XAG/USD has been unable to break under the 20-day SMA, leaving the precious metal in better technical standing than XAU/USD. Turning higher places the focus on April 2022 highs (25.85 – 26.21). Otherwise, falling under the SMA exposes the 50-day equivalent for key support.

XAG/USD Daily Chart

Chart Created in Trading View

— Written by Daniel Dubrovsky, Senior Strategist for DailyFX.com

To contact Daniel, follow him on Twitter:@ddubrovskyFX





Source link

Share76Tweet47

Related Posts

Our data shows traders are now net-long EUR/USD for the first time since Nov 14, 2023 when EUR/USD traded near 1.09.

Our data shows traders are now net-long EUR/USD for the first time since Nov 14, 2023 when EUR/USD traded near 1.09.

by Forex Tips
December 1, 2023
0

Number of traders net-short has decreased by 21.81% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIEUR/USDBEARISH50.11%49.89%8.76% Daily17.71%...

Our data shows traders are now net-long USD/CAD for the first time since Sep 29, 2023 when USD/CAD traded near 1.36.

Our data shows traders are now net-long USD/CAD for the first time since Sep 29, 2023 when USD/CAD traded near 1.36.

by Forex Tips
November 30, 2023
0

Number of traders net-short has decreased by 19.21% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIUSD/CADBEARISH51.44%48.56%5.67% Daily46.95%...

Our data shows traders are now net-short NZD/USD for the first time since Jul 19, 2023 when NZD/USD traded near 0.63.

Our data shows traders are now net-short NZD/USD for the first time since Jul 19, 2023 when NZD/USD traded near 0.63.

by Forex Tips
November 29, 2023
0

Number of traders net-short has increased by 29.83% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OINZD/USDBULLISH48.80%51.20%-11.46% Daily-11.81%...

00 GMT when EUR/USD traded near 1.07.

00 GMT when EUR/USD traded near 1.07.

by Forex Tips
November 14, 2023
0

Number of traders net-short has increased by 1.13% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIEUR/USDBULLISH48.95%51.05%-27.45% Daily-13.69%...

Our data shows traders are now net-short EUR/USD for the first time since Aug 30, 2023 when EUR/USD traded near 1.09.

Our data shows traders are now net-short EUR/USD for the first time since Aug 30, 2023 when EUR/USD traded near 1.09.

by Forex Tips
November 3, 2023
0

Number of traders net-short has increased by 40.48% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIEUR/USDBULLISH49.70%50.30%-11.28% Daily-27.05%...

Load More

Recent Posts

  • Safe Wallet scammer steals $2M through ‘address poisoning’ in one week
  • Gold in Record Zone as Dow Breaks Out; EUR/USD, USD/JPY Eye NFP
  • Nov. 26 – Dec. 2 – Cointelegraph Magazine
  • Crude Oil Markets Dissatisfied by OPEC+
  • The SEC is facing another defeat in its recycled lawsuit against Kraken
Forex Pulse Detector

Categories

  • Alerts
  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Technical Analysis
  • Videos

Newsletter

  • Home
  • Contact
  • Privacy Policy
  • Store

© 2018 Forex Blog

No Result
View All Result
  • Contact Us
  • Homepages

© 2018 Forex Blog.