Gold Fields broke below both its 8-day Moving Average (EMA) and medium-term support level yesterday. Looking at the US Dollar Index last night and this morning, I do think that this might turn out to be a false break. See the link to my US Dollar Index/Gold Idea of the 17th of October. With the USD Index now trading below 93, I do think that the next stop for the Gold price could very much be $1925/oz. Should this turn out to be a false break for GFI and we see a break and close above the 8-day EMA (R206.80), my short-term target the become R220.
Also, remember to read our recent research report on the company here: http://oldoak.co.za/wp/index.php/2020/07/03/get-to-know-your-jse-companies-gold-fields-limited-jse-gfi/
Also, remember to read our recent research report on the company here: http://oldoak.co.za/wp/index.php/2020/07/03/get-to-know-your-jse-companies-gold-fields-limited-jse-gfi/
