The Commitment of Traders report (COT) is published at the close of every Friday's trade and it always shows the Tuesday COT data.
The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report.
We inserted the Blees rating into the daily chart .
The last Blees rating numbers (28) are showing that commercials were still heavily short in gold this week Tuesday.
Though commercial short position has been decreased again: it is 23.756 less than last Tuesday.
The Blees were 28 Tuesday , it has been turning up but not big change.
(I noticed when the blees is turning down from 100 or turning up from zero the real decline/ rally is getting started. )
The blees rating at 28 is still showing to the lower prices.
(When blees will be between 50-70 that will show that longer term direction change is coming.)
I The problem that we don't know the COT/blees number after yesterday's big pop. The next number will come out next Friday showing 07.06. data. So the COT will not be in our help in next week's decisions.
Gold_COT reports source: news.goldseek.com/COT/1464982299.php
The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report.
We inserted the Blees rating into the daily chart .
The last Blees rating numbers (28) are showing that commercials were still heavily short in gold this week Tuesday.
Though commercial short position has been decreased again: it is 23.756 less than last Tuesday.
The Blees were 28 Tuesday , it has been turning up but not big change.
(I noticed when the blees is turning down from 100 or turning up from zero the real decline/ rally is getting started. )
The blees rating at 28 is still showing to the lower prices.
(When blees will be between 50-70 that will show that longer term direction change is coming.)
I The problem that we don't know the COT/blees number after yesterday's big pop. The next number will come out next Friday showing 07.06. data. So the COT will not be in our help in next week's decisions.
Gold_COT reports source: news.goldseek.com/COT/1464982299.php
Note
Formula for counting the blees number:Commercial shorts-commercial longs= X
X-last 2 years minimum X number=Y
Last 2 years maximum X- Last 2 years minimum X =Z
Blees= Y/Z*100
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.