KCN looking like a buy at support level.
1.25
which is the bottom of the range trade.
It has come a long way off the top
of the channel of $2.
buy the fear. GOLD still strong despite
a retracement.
Month chart -
facing huge resistance @ $2.01
I;ll wait for a close above $2.01 so i can average up.
Day chart -
triangle setup has broken to the upside
but wait for $2.01- 3 to clear for confirmation.
no need to rush this trade.
both long and short term charts looking bullish
and GOLD will head higher as the Fed will keep
monetary policy loose. Fed funds rates...
another gold miner on the ASX
with a TRIANGLE setup
price has been congesting (moving sideways)
for a while now while buyers and sellers work it out
i think the sellers have been exhausted so expect a
big move higher when the break happens....
to the upside.
TARGET of circa $3.
2023 will be the year GOLD and its miners shine mofos
my daily chart on KCN shows a triangle setup
and the tip of the triangle will suggest
a date when the breakout happens.
interestng that the 2 trand lines meet
@ FEB 2022.. which is when i expect a break!
the GOLD price is also going to break
in FEB 2022 (see my other charts).
so KCN and GOLD will break out higher
in 2022..
Timing price moves is hard but i will do...
KCN long term chart showing how it was unloved
when the Chatree mine closed and now its back up.
Market is showing KCN some love. Price has moved too fast
in a short time so expect some sideways churn
before the next move higher.
KCN chart setup looks good. the selling exhaustion can
be seem visually in the price chart. A very similar setup
to MML. Both short and long term EMA shows the trend
is up. now we hold till the next resistance level.
momentum is building and its going to retest the previous high.
buy more on that break out.
so many years of going sideways and flushed out the sellers.
now that the sellers are exhausted. only way is up
maybe good news on the thailand operations will
be revealed soon
KCN making moves today while other ASX gold miners are idle.
hourly chart shows buying strength.
high risk gold miners like ASX get moving only
when the GOLD price bull run is in full run.
first the big caps move... (early stage)
second is the small caps.. (middle stage)
final stage is when all the gold explorers go crazy.
this will be the final stage of the bull...
KCN trade has worked
break out is now confirmed.
RSI looks overbought so expect a dip.
buy any dips coming your way and load up
on this baby.
Maybe news in thailand mine has changed
sentiment.
KCN has potentially found support and has price has been
milling in the range of 12 to 60 cents for the past years.
more upside potential is coming. Will need XAUUSD to make higher highs.
Revisit this post in 2 years.😂
