CFTC GOLD NET POSITIONS

This chart will give idea to the traders on what happens when HEDGE FUNDS reduce their Net Positions. Based on the positions update we received last week, from tomorrow the chances of retracement are less compared to the next impulse we will have towards the downside. Looks like Monthly M formation will complete at $1580-$1620.
Just a note: Every position is for 7 days so the one we received in latest report goes from 1 Mar to 8 Mar