If one wants to be a contrarian and buy low when no one else is bullish then I think gold qualifies.
The weekly stochastics are deeply oversold and everyone is bearish. Maybe we printed the bottom Friday, or maybe we still have a little further to go. I don’t know. But I do think the conditions have been met for a contrarian trade.
(Click on image to enlarge)
(Click on image to enlarge)
Source: sentimentrader.com
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