Look at monthly timeframe. Perhaps, price in "6" of correction cycle from September 2011. Anyway price should bounce near cost of production a gold. Correction of big impulsive cycle from August 1999 till September 2011 is ended into $1086–890 area.
We can...you're not quite following me.
The sentiment can be analyzed, and yes, also seen in charts, but it adds value to be aware of ratios like bonds/stocks, or seeing if gold reacts or not, monitoring commitment of traders reports etc.
There's more than the chart. All I'm saying.