Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Tuesday, May 26, 2020
Gold has steadied 5/26
Gold has steadied at around $1,730 a troy ounce, as it faces the headwind of easing lockdowns and improving economies. But most analysts believe gold is just consolidating after recent gains and will continue to find support from U.S.-China tensions and low real interest rates. "For as long as gold holds its own above the $1,700 mark, we believe that the price is merely taking a breather within an intact upwards trend," said Carsten Fritsch at Commerzbank in a recent note. Spot gold is last down 0.1% at $1,727.15 an ounce. Investor interest in the precious-metal also continues to be strong, says Ole Hansen, commodities strategist at Saxo Bank, citing CTFC data showing investors added 12.3 thousand lots to their net long futures position last week.
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