Anglogold is putting a short-term low with a bullish engulfing candle in September. The price objective would be to reach the declining trendline at most then decline into second quarter of 2023. Price for September 2022 going below that of September 2021 support price reversal after a swing high lower than March 2022. Ideally would be looking for a triple bottom in 2023 with price undercutting the low of September 2022. That low of 2023 would be most ideal to long gold shares to hold for many years and inflation might make a return with vengeance leaving central banks room to maneuver.
Comment:
After a good run, Anglogold is poised for a pullback, giving away a large part of the gains. However these are lows that allow one to scale in. Alternatively one can sell at the top like today & tomorrow then look to buy again around price of R240-250.
Trade closed manually