GOLD - Sentiment Trading on fire!

In a previous articlewe have seen that there were several patterns showing us how the price of GOLD can continue with the strong rally.

One of the main criteria for this rally was that SENTIMENT index was showing a large divergence towards a decline (i.e. The majority of the traders were SHORT, which means that many thought that the price will start to decrease).

Clearly the opposite happened, with GOLD reaching new highs!

As per the above image, this divergence continues to exist. A further confirmation of a possible upside is that we also have the RSI (to the right), where we see that there are currently no particular downward divergences.

The next target shown by the Kimura Trading RANGE INDICATOR is 1315!.

 

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