Overbought Territory: Spot Gold XAU/USD Tops 85% Long Position

The latest installment of the 'Pivot Points + Long/Short Position Signals' series has been released by FX678 for gold, oil, forex, and stock indices. The analysis compares the current net long percentage with the previous day's net long percentage to derive position signals.

According to the data, 4 instruments are in 'overbought' territory (long positions exceeding 80%), while 4 instruments are in 'oversold' territory (long positions below 20%). The highest long position percentage is recorded for Spot Gold XAU/USD at 85%, followed by FTSE China A50 with a 92% long position.

The analysis also shows that net short positions decreased in several markets, including Dow Jones US30 and EUR/USD. Conversely, net long positions increased for FTSE China A50 and decreased for Spot Gold XAU/USD.