GFI is find it hard to maintain momentum and R230 has found some heavy resistance. The other golds have dropped but GFI has held strong. Should we see a drop of R220 we could see a nice move down R200 and maybe even further.
GFI
the sell of of Gold stocks was worse than expected due to the bad
Job Data from america indicating a far bigger rise in gold to be expected
we could see 4000 dollars the main instigators are?
known as the trifecta trade against the dollar
Government stimulus ( 4 trillion with no end in sight )
a Tec War with China ( Tik Tok and Wechat )
and the...
GFI Long term trade ( LTT ) of C&H Pattern completion level R300
that is still R40 to go as seen on weekly chart
trade performing as expected
before a correction is due.
Very interesting level on Gold Fields ( GFI ). Not only is it trading close to its all-time high levels, made back in 2006 (yes, exactly 14 years ago), but a break and close above the Ascending Triangle (R159.50) could very much put GFI in uncharted territory. A profit target can be estimated based on the height of the triangle added or subtracted from the...
Very interesting level on Gold Fields (GFI). Not only is it trading close to its all-time high levels, made back in 2006 (yes, exactly 14 years ago), but a break and close above the Ascending Triangle (R159.50) could very much put GFI in uncharted territory. A profit target can be estimated based on the height of the triangle added or subtracted from the breakout...
Pair: Long GFI/ Short HAR
Currently trading on Support Level (S3) and 200-SMA - short term indicators looking oversold.
Current level 2.00 as per the relative/ratio chart.
Stop: 1.93
Traget: 2.18-2.22
Taking a look at GFI, we can see a few indications that the price will move up higher.
1. Inverse Head and Shoulder formation - if you take a look on the daily chart there was an inverse H&S that formed in Mid Feb to Mid Apr, the
formation played out and the price broke upward.
There is currently an inverse H&S in play as it just broke through the...
Taking long position in GFI, giving the fact the market is not acting well, and there is high probability we trend to the downside. Taking long position in a precious metal would protect you from downside. Recently, most gold miners companies have done well and trend to the upside. Therefore, I expect this one to continue trending to the upside.
