Contrary to what many believe, I think that the spike in gold and silver on 27 April 2015 (see chart below) was not a short covering rally.
Because why are managed money short positions on 28 April 2015 (see charts below) at new highs for the year as shown below?
Because why are managed money short positions on 28 April 2015 (see charts below) at new highs for the year as shown below?
So I believe a short covering rally will still happen next week or so.
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