This analysis is from August 2015 by Bob Hoye’s Ross Clark.

there are may ways to analyses COT and its relation to projection of POG.

He analyses based on RSI of Commercial and Speculative positions.
Interesting is that data goes back to 1990’s and covers period when gold bottomed and had big trend change in 2001.

http://www.321gold.com/editorials/hoye/hoye080615.pdf