Gold out of the woods?
Updated
Chart with scenarios.
Comment
This is the worst drop (in such a short period of time) in futures contracts from big fishes since COT data is available. So, I'd risk a preliminary answer to the main question: no, it is not out of the woods, yet, and maybe for some time.
If you go for the long term, amazing cheap buys are coming for accumulation.
If you go for the short term, you can swing here looking for some relief up move, but both long and short positions are highly speculative and will rely only on technicals and good luck other than fundamentals. At least for the time being while this trade war is taking shape.
Comment
COT report shows big fishes still not buying. Staying out.
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