Traders are definitely not too bullish on Gold & Silver. It is an ironic title, but I was concerned with the ability of metals to sustain a rebound given current readings in the CoTs. Gold & Silver have key resistance levels and time will tell if they can surpass those and retest their August 2020 highs. There is enough room for traders to pile on bullish bets.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.