| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Gold & Silver Daily Sentiment Index
Daily sentiment index (DSI) has hit extreme bullish readings on Gold at 90% bulls and on Silver at 92% bulls.
In a downtrend, this is a contrarian signal to sell or short the rally. In an uptrend, this is not a contrarian signal to sell or short, but just to expect prices to digest recent gains by pulling back or consolidating sideways.
So what is the main trend? I believe that Gold Miners breadth, which shows broad participation in the current rally unlike in Janruary and February of 2012, confirms that we are in an uptrend.
I’d expect some type of a pullback to occur eventually, as both Gold and Silver are rising rapidly with overbought technical readings and overly bullish sentiment.
However, I’m not selling any of my Silver, but rather will be buying more if we pullback. I continue to hold a full position on the long side, and expect Silver to eventually go much much higher into triple digits several years from now (plus or minus).
2174C32D-57B5-4362-A4F5-FB58A310DC2D.png
2012-09-10 22:06:42
Source: http://thedailygold.com/gold-silver-daily-sentiment-index/
Source:
