Inv Cup and Handle pattern has formed on the daily.
We've had the price break below the Brim level but only barely. As a conservative trader, we'll need a stronger break down before there are any fireworks. So I'll be watching this one carefully.
Other indicators show upside to come.
21>7 (Bearish)
Price >200 (Price heading towards it).
RSI<50 (Sell...
W Formation formed on GFI a while ago.
The price broke up and since then it was moving up for the first few weeks.
Then when the gold price started its consolidation, so did the gold companies.
This has formed a falling wedge. Once the price breaks above the pattern, we will see it continue its upside.
RSI>50 - Bullish
7>21>200
Target R346.54
REALITY:...
W Formation formed on GFI.
It looks like a CUp and Handle but the second rounding bottom is more than 50% of the cup, so we call this a Short Formed W Pattern.
In some cases, you can say it's even stronger than the basic as the price failed to make a new low - showing how strong the buying is.
RSI>80 - Bullish
7>21>200
Target R346.54
Inv Rev Cup and Handle has formed on Gold Fields.
The breakout is quite strong and looks like the price is ready to plummet.
The only obstacle in the way is the 200MA which investors might try to buy and hold the price up.
We are seeing mixed signals but the inclination is more SHORT.
21>7 0 bearish
Price> 200 mixed
Target R127.72
ABOUT
Gold Fields Limited...
Gold Fields we made a BROAD analysis over the medium term.
As it is one of the smaller gold companies, I like to widen the stop loss and take profit accordingly.
So, it's not hit our stop loss yet at R173.80. But it has broken below the uptrend.
Best we can do is just wait, hold and hope.
But if it doesn't work out it's just another 1.5% loss on the portfolio,...
Cup and Handle has formed on the daily and it follows with the upside in the gold price
We have the 7 > 21> 200 MA and Price> 200 which is bullish
Target R289.22.
We also have the Chinese New year with consumers buying gold as gifts, which can push up demand for the metal.
We've seen a bit of a weakness in the U.S. dollar, which you can see with the DIXIE, which...
Goldfields has broken out of a two (2) year TR and after a backup (BU) has started the markup. Recently after a buying climax, we are seeing a possible reaccumulation range. Some volume is again stepping up and we are looking for a break of the smaller TR for the next step up.
The price of gold has been in consolidation and looking weak. It is now testing the yearly pivot point. The JSE stocks have been reflecting this weakness with Harmony showing the most weakness. If the gold price breaks the yearly pivot point we could see quite a bit more downside. But it is holding and a break to the upside could mean an extension of the...
Gold stocks have been a leading sector in the Resources Sector. Currently, there has been some climactic action and I am expecting some consolidation. However, once the consolidation has completed which stock to take positions in on the next swing. Comparing the relative strength of ANG, SGL, HAR and GFI we see that ANG is the leader of the pack. GFI has also been...
GFI has been an interesting chart to look at from a Wyckoff perspective. GFI had been stronger than the sector group (Gold Miners J150). However, with the sharp decline was lagging the sector and now is again showing strength. After the initial decline we had a redistribution range with an upthrust after distribution (UTAD), some low volume tests of the UT and a...
