JSE:GFI has bounced off of a support level and looks like a upward move is a possibility. The stochastic and MACD are confirming this momentum. If the price moves up above the 15000 level I will consider a long position. Beware that it might find some resistance on the 200SMA, so if it breaks through that, it further confirms the move.
Just a follow up on my 12 November GoldFields call. Click to see that call:
So we ended up testing that R127 support level and for now, it held up quite nicely. Seems like the Gold Price is somewhat oversold and the US Dollar Index ( ICEUS:DXY ) is still dropping like a rock.
With today's break and close above the ultra-short-term 8-day Moving Average...
Buy at support line
Entry 8.8
Stop 6.8
Target 14.5
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
Goldfields around its support today. will be interesting to see if it will bounce like Gold did. Gold miners will be interesting if the gold rally from earlier in the continues.
Again, Gold Fields finds itself at a crossroad. The trading update from the company this morning looked positive, and we maintain our buy recommendation on the GFI. See our recent report: oldoak.co.za
Technically, the share price still finds itself within the falling wedge pattern, with the bottom support-line being tested for the third time this week. We also...
Gold Fields broke below both its 8-day Moving Average (EMA) and medium-term support level yesterday. Looking at the US Dollar Index last night and this morning, I do think that this might turn out to be a false break. See the link to my US Dollar Index/Gold Idea of the 17th of October. With the USD Index now trading below 93, I do think that the next stop for the...
