- Goldfields has tagged first target from the bull flag breakout. It also lines up with horizontal resistance from previous swing high \
Bulls will need to capture and hold R223 on the daily to keep the momentum .
Another scenario is we consolidate (build a flag ) to break out to the next level up .
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Disclaimer: All ideas are my opinion...
With today's price action, JSE:GFI , GFI has broken out of the symmetrical triangle that it has been trading in. Along with that, the stochastic, MACD and EMA's have all crossed which indicates upward momentum. If it continues upwards, I will enter a long position.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
I will be watching the 50-day Moving Average (EMA) closely at R163.20, with a break and close below these levels today most probably bringing back the higher lows support-line - my major short-term support at R160. Should support hold, will IMHO be my confirmation of a possible short-term bounce. With markets being ever-increasingly fearful, I would definitely...
Gold miners have been in a down trend, is it still applicable?
SSW has been trading in a channel for sometime now. stochastic has confirmed a reversal to the downside is applicable if the MACD fastlen and slowlen cross.
stop loss : 56.00
Take profit : 46.55
The structure highlighted on 22-November now playing out. Original idea attached.
As noted at the time:
Gold Fields ( GFI ) - Short Term Potential To Repeat Price Structure As It Nears Overhead Resistance
- Following it's short term surge, price trades near the overhead resistance and swing highs seen during May and June.
- Overhead resistance is yet to be...
JSE:GFI is showing some nice downward momentum based off of the stochastic, MACD and the two EMAs all signaling. If it breaks lower, we can potentially see a move down towards at least the 14500 level and if it breaks through that level, we could see it move even further down to the 12000 level.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
Last Thursday, I made the following comment on the trading desk/to clients, at 17333c.
Gold Fields (GFI) - Short Term Potential To Repeat Price Structure As It Nears Overhead Resistance
- Following it's short term surge, price trades near the overhead resistance and swing highs seen during May and June.
- Overhead resistance is yet to be tested however...
After the recent break of the diagonal resistance line, which developed since August's highs, we now find Gold Fields (GFI's) in extreme overbought according to its 14-day RSI. There is a BIG BUT, however. GFI's 50-day moving average (EMA) is getting very close to breaking above the 200-day EMA...a Golden Cross. This could create further bullishness in the share...
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
JSE:GFI is showing some signs of a change in momentum. We have been in a downswing since June this year and I think we could potentially see a move upward. It is currently bouncing off of a strong support level and if not a complete reversal, I think we could at least see a retracement upwards before continuing downwards. I will wait for the two EMA's to cross in...
long to $12. We currently have a trading volume of $4m with price failing to break a very important level. We have the Rhombus formed which is predicting an upside. The best entry level is a break outside the rhombus
We give a quick recap of markets overnight and the previous day and insights into the day ahead with a few trade ideas on the day. Ideas are strictly NOT INVESTMENT ADVICE.
JSE:GFI bounced off of the strong support at around the 12700 level last week. In the past, it has gone up from this level. It is currently at another resistance level and if it breaks through that, I think it will go upwards for a nice long position.
Price approaching 120 support.
With RSI in oversold territory, could we get a bounce from here?
I reckon so, though a lot depends on (spot) Gold prices.
