NewGold ETF which tracks the rand price of Gold has been knocking hard on the R360.00 level. A breakout of this level should see an explosive move upwards which possibly supports the longs i am seeing in DRD and AngloGold. The break of the flat top triangle targets R386 which is an approximate move of 7% in the rand price of gold.. Good, especially for our local...
My thoughts on New Gold.
Into break out resistance, this should bounce somewhere in this area.
It might even be the low.
Long term hold.
Be careful as the market never gives you certainties, only probabilities.
Fundamental side of The Idea :
Miners continue to outperform gold.
This ratio is now confirming a prior breakout with authority and making higher lows since March.
While all eyes remain on Gold and crypto , this industry is climbing a wall of worry.
About the company
New Gold's balance sheet is looking better thanks to a high gold price. However, all-in...
Trade update: NGD
I have officially closed my 2 month swing trade on new gold inc for a 113% gain! 😁🥇
Why did I close and take profit?
The daily is showing sell off pressure as the candle forms the red doji crossover.
All 3 bottom ema dot indicators are going red.
Will take till end of market for all indicators to close what they show, went ahead and cleared the...
Update from last post on this one, we added on april 2nd as we found support on the downward channel for a knife catch. Sort of the same approach that I took to capture my current 75% gains on gopro stock.
This trade is still active.
3day has fired green strong non stop since then.
Easy money to be made with our system! 💰💰💰💰
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