by Bill Holter, Miles Franklin:
Gold and silver probed their November 2014 lows early last week and finished strong. From a chart standpoint, they both put in outside reversal weeks to the upside. I’d like to visit the current “setup” in gold and silver from several angles and then take a step back and look at them from a very broad view.
The latest commitment of traders report, out this past Friday (and with data through Tuesday) shows a picture which has changed dramatically over the last few weeks.
-The large specs reduced long positions by 9,553 contracts and increased shorts by 19,246 contracts.
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