Yamana Gold is the first gold stock i ever traded for gold it gave me some return so it was easy for me to remember and I sort of grew fond of the stock, that's the only reason i'm choosing this stock to play with.
My main goal is to be able to learn to play any market.
Reading some information on Yamana, particularly, it seems the market is trying to be .
This very basic chart shows that it could in any direction, but I can sort of guarantee that it might be short term .
I'm going to stay neutral, and watch what's happening for the week.
Please join me, if you'd like.
How else can we predict from here?
Anyway, on to figure out where the price will move next.. we zoom in to recent events..
This is as recent as it gets between highs and lows...
Notice how it still follows the retacement!
It peaked over it once and then came down. That might be a signal right there...
So, for the sake of my ignoramus analysis...
Score 1, bears.
Right off the bat I see that resistance peaking, I see a second time it tried to come up and jumped back down, but theeeen I see this third peak...
I don't know much, but i know that looks a candlestick pattern, but it isn't....
So... what do I get from this chart? There's still uncertainty in which way to go.
The volume and resistance shows that bears are fighting really hard to bring it down.
Notice the second peak.. the volume shoots up, but for the bears.
Then the bulls come in trying to gain a foothold, but the price tumbles anyway...
what could this mean? I don't know, but I think its bearish :/... maybe i'm wrong.
I'm drawing a prediction I've noticed this happening this past week with other charts. I am also going to compare it with Newmont Gold and see if there is any correlations...
This is the definition of correlation!
Yamana and Newmont are almost equal ...
(they are merged as companies, so that makes sense).
And Gold is clearly an "influencer".. so.. what are they up to??
CCI and RSI show an uptrend and we're in the middle of it now.
250 point drop in ONE WEEK!\
What kind of battle is going on here?!
Now this is unlike many of the charts I've seen recently. This price went all the way back up to almost stable levels after that fall. Odd... but useful! That's a bullish signal, no?
When I try to pass through all of this fighting going on here... what's available to see?
What did you see? This is what I could find...
SEEMS LIKE AN UPTREND! Maybe?
This is what I see in the close-ups.
and here is my prediction!
Let's see what happens tomorrow!
So far the score is
Bears - 2 | Bulls - 1 (cause of Gold)
Thank you very much for your time and happy trading!!!
We are in the time of making monaaayyy.
and please, help me, cause I literally don't know shizz...