Loading ...That’s a contrarian indicator.
If the specs were not already long a pant load of futures the metals (and shares) would be ripping higher.
Maybe some of that radiation from Russia can float over and melt the commercial’s brains and they start covering.
Wishful thinking.
That said, the fact the aggressive gamblers are fading the metals (and shares) is bullish. The technical guys are all looking for a correction. That’s bullish too as a great deal of selling / shorting / hedging has occurred in the shares / ETF’s (especially in silver).
So something that’s possible is the short term aggressive players might cause a crazy Ivan continuation move higher.
I’m not forecasting this — but it’s possible.
Cheers