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Silver Sentiment at a Level not Seen Since 2003

Silver Sentiment at a Level not Seen Since 2003

2012-01-04 19:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Latest CFTC Release dated December 27, 2011:

Week (Data for Tuesdays)

Comment

US Dollar

Euro

at record bearish extreme (potential for bullish reversal)

British Pound

Australian Dollar

Japanese Yen

Canadian Dollar

Swiss Franc

turned from bearish sentiment extreme in December

Gold

Silver

Sentiment is most bearish since 2003 (potential for bullish reversal)

Copper

Crude

The COT Index is the difference between net speculative positioning and net commercial positioning measured. A light blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying. A light red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Crosses above and below 0 are in bold. Non commercials tend to be on the wrong side at the turn and commercials the correct side. This is not always true however (especially for equity futures) –group behavior varies across markets. Use of the index is covered closely in detail in my book.

Charts

Non Commercials (speculators) – Red

Commercials – Blue

Small Speculators – Black

COTDiff – Black

Volume on bottom

US Dollar

Silver_Sentiment_body_usd.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Euro

Silver_Sentiment_body_eur.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

British Pound

Silver_Sentiment_body_gbp.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Australian Dollar

Silver_Sentiment_body_aud.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Japanese Yen

Silver_Sentiment_body_jpy.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Canadian Dollar

Silver_Sentiment_body_cad.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Swiss Franc

Silver_Sentiment_body_chf.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Gold

Silver_Sentiment_body_gold.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Silver

Silver_Sentiment_body_silver.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Copper

Silver_Sentiment_body_copper.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

Crude

Silver_Sentiment_body_crude.png, Silver Sentiment at a Level not Seen Since 2003

Chart prepared by Jamie Saettele, CMT

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie, e-mail jsaettele@dailyfx.com. Follow him on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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