On the heels of China devaluing the yuan, today King World News is pleased to share a piece which give a remarkable look at the war in the gold, dollar and crude oil markets. This piece also includes four key illustrations that all KWN readers around the world must see.
King World News note: This astonishing chart from SentimenTrader shows that the U.S. dollar hedgers are now in one of the most bearish postures in past 30 years, betting on a significant dollar decline (see chart below).
King World News note: The next chart from SentimenTrader shows that sentiment in the gold market is now worse than what it was when gold was $250 an ounce. Sentiment is currently at the second most pessimistic level in the past 25 years! (see chart below).
King World News note: We kept warning investors that the rally in crude oil to the $60 level was being aggressively shorted by the hedgers, who were betting on a significant decline. Well, crude oil has tumbled all the way to $43 a barrel from $60. The next chart from SentimenTrader shows that hedgers are now covering short positions into the decline in the price of crude oil. Next week's chart should show additional short covering. This means the crude oil market is in a much less bearish posture at this point (see chart below).
King World News note: The final chart from SentimenTrader shows that sentiment in the crude oil market is now at one of the most pessimestic levels in the past decade. This is bullish from a contrarian perspective and may mean the recent plunge in crude oil prices is coming to an end (see chart below).
These charts are just a portion of one of the latest fantastic reports. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
***ALSO RELEASED: Chaos In China, Economic Suicide, Shenanigans From The Fed And 3 Ominous Warnings! CLICK HERE.
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