Gold has topped, Open Interest, is below 80%, Double top...

Gold maybe running out of gas. Technically the gold has a double top and reached it's square of nine objective. Parallel trends also show its time to exit longs. The monthly support is down a long way, so wait for opportunities that might take months. Open Interest, Fund Longs and Commercial Shorts are on 7 week lows and likey will not recover until margins are lowered to a more economical level. All the signs of a top! View all the charts with the following link. -->

http://www.cotlive.com/COT/commodities/gc1.htm

GOLD - COMMODITY EXCHANGE INC.
RECORDS!		OI	FL	FS	CL	CS	Fund_Vol	Comm Vol	Spec Vol			% Record	% 7- Year
7-YR low		244488	97630	18549	46115	133451	130477	210294	52987			Highs	Lows
7-wk low		509326	237230	42856	155014	393831	297513	569971	90931		OI	78%	208%
7-wk high		542342	291974	70960	176476	442648	336773	599493	103558		FL	78%	243%
Record H		650764	304564	97713	208787	485016	353254	673996	121432		FS	62%	325%
Record H		11/9/2010	10/12/2010	4/6/1999	7/20/2010	9/28/2010	10/12/2010	6/29/2010	8/10/1993		CL	85%	383%
7-YR low		8/7/2001	4/17/2001	6/3/2003	9/25/2001	4/3/2001	6/5/2001	8/7/2001	11/13/2001		CS	81%	295%
HISTORY!		OI	FL	FS	CL	CS	Fund_Vol	Comm Vol	Spec Vol		FV	84%	228%
8/30/2011		509326	237230	60283	176476	393831	297513	570307	91814		CV	85%	271%
8/23/2011		528520	258641	70960	175150	405586	329601	580736	97151		SV	76%	173%
8/16/2011		514107	263954	63868	160562	409409	327822	569971	92259
8/9/2011		510223	259388	55815	163472	412678	315203	576150	100243
8/2/2011		529403	291974	44799	155014	442648	336773	597662	92943
7/26/2011		536454	278473	42856	158260	441233	321329	599493	103558
7/19/2011		542342	277492	58195	162395	426209	335687	588604	90931

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