TradingView
Wiz_of_Oz
Dec 18, 2019 8:20 AM

Expecting a Bottom 

EVOLUTION MINING LIMITEDASX

Description

We have a confluence of supports around the $3.27-$3.34 zone. Considering the gold price has withstood the onslaught of the trade agreement & the DOW making new highs (i.e.positive new flows) do not expect EVN to fall too much. It is also one of the most profitable gold producers. I expect the price to bottom in the above zone and start turning back up. Watch patiently for the correct indications that it has bottomed.

Comment

The price hit the bottom as expected. It has formed an inverted H & S pattern now and broken above the neckline ($4.03).

Comment

A massive inverted H&S forming. A break above will reaffirm the failure to break below the neckline of the H&S, as well as a double bottom around $3.40 zone
More