Gold breaks its downtrend line. See COT reports.

FX:XAUUSD   Emas/Dolar U.S.
The COT data is very important for traders to understand. Go to barchartdotcom. In the upper left, click on futures . On the left, click on commitment of traders. In the center right, click on gold . The middle graph shows the positions of the commercials ( gold miners, banks, swap dealers = bullion banks), the larger speculators, and the small speculators. The lower graph shows producers, swap dealers, managed money, and others. When you slide the mouse over the futures curve, a popup shows the COT data for that week. The commercials are called the smart money. Try to side with them. They rarely go net long on gold futures . They are either making gold (producers) or are buying gold (banks). When their net futures position is near zero, that is a strong buy. Gold can take weeks to turn up and this may not be the bottom yet. The Blees score is a calculation which you can find on the web. Look at chartwatcher's gold charts from the spring of 2016. I went long on a gold future last night. I was already long on GDX and SIL in my 401k. The last time the commercial shorts were this low was January, 2016.
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