Very explosive technical levels. Today, the break below the higher lows support line is a short-term worry for all AngloGold Ashanti shareholders. Should support hold around R196, could confirm a possible short-term bounce, with my focus point being the 200-day Moving Average (EMA) at R303. A break and close above these levels could again bring the R320 resistance into play. For now, I'm remaining cautious on ANG and holding tight. With markets being ever-increasingly fearful, I would focus on this space. Refinitiv Eikon consensus target price for ANGis R329.
nice analysis Schalk, thank you. Looks to me like the next level of support is around R284. Since Dec its just been lower lows and if it doesn't bounce off that support, do you think it could get down to R277
SchalkLouw
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@makkam01, I agree. Looking at today's movement, it seems like your support might be intact.