Gold stock sentiment indicator.
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Almost finished a sentiment indicator for the cryptocurrency sector.
Anyone want to buy some software? Should be worth a cool $1m to a major player.
I can assure you it looks nothing like the gold sector and should work really well for swing traders.
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Here we go, here we go, here we go...
Not sure we will ever see US$1,800 gold ever again and if we do it will be more like a smash and grab.
For me the next target is around A$2,500 and sentiment will get overheated around the 55% area. Just like the economy.
Do not forget to take profits when sentiment spikes.
I have been wondering why gold did not go below $1,750 before the end of April. I suspect if it did there would have been even greater demand in Exchange For Physical (EFP). Major players would be trying to avoid this.
Bit of capitulation in sentiment but nothing dramatic and hit a low of 36.6%. Out by 1% and 1 day.
A line in the sand (felt like a ravine) has been crossed and should now become support.
Here is the indicator.
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