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  1. I am having difficulty correlating this futures GCM with GLD, a substitute for gold. On the one day chart for GLD it appears that the formed Top 123 is negated by a higher candle price while the Stoch is oversold, the divergence indicator fast component is just turning green, the closing candle price today is above the 20 Day SMA of the Bolinger Band (a bullish bias), and the closing price today is above the 8T line which is bullish. The COT report on Gold from the 28th indicates a decrease in commercial and large spec shorts, and the shorts on SLV have decreased by 25 Million at the end of last week. The shorts on SLV were driving the price of silver down … so, the 123Top of GLD is being negated by a 123 Bottom on my graph. It is a confusing picture upon which one would have difficulty shorting GCM2023. However, there is a supply area at 190 on GLD which would support a short. But if that supply area is hit the H&S is gone.

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