COT reports analysis and market overview for September 4 - 10 (Gold and silver)

The resistance level on the Daily timeframe was broken on Monday, the gold and silver markets broke through the triangles formed earlier in the direction that corresponds to the opinion of large speculators and hedgers. The Daily trend is bullish, an active impulse wave is developing. A pullback entry point will appear after the formation of a full-fledged correction on the Daily timeframe.

Gold. Technical analysis and COT net position indicator.

Large speculators continue to buy, hedgers sell, thereby supporting the trend on the Daily timeframe. Long positions will remain relevant as long as the market is above the support level of the Daily timeframe, the lows of August 29-31.

Silver. Technical analysis and COT net position indicator.