Sure_Trading

Massive H&S Pattern on ANG

Short
JSE:ANG   ANGLOGOLD ASHANTI LTD
JSE:ANG has formed a massive Head and Shoulders chart pattern starting all the way back in April 2020. The right shoulder is not very big in relation to the left shoulder, and the uptrend leading up to the formation wasn't extremely significant, so I wouldn't be surprised if it doesn't make it all the way to it's target but I think we could definitely see a downward move to the previous significant support level at around 30000 if it breaks through the neckline and confirms the pattern.

If it breaks through the support level at 30000, we could possibly see a move down to the target, but I feel that is quite unlikely.
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THANK YOU.
+1 Reply
Sure_Trading Thinus5422
@Thinus5422, Thanks for following and viewing my charts!
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