SchalkLouw

To Gold(Fields) or not to Gold over the Shorter-term?

Long
JSE:GFI   GOLD FIELDS LTD
This can turn out to be quite an important support level . A break lower can most probably test R125 again, with a break below R125 not looking healthy for Gold Fields ( GFI ). We are getting mighty close to a Death Cross, which I will be monitoring very closely. GFI however do find itself in EXTREME OVERSOLD (with the Gold price itself) according to its 14-day Moving Average ( EMA ), which could see a short-term recovery. Should the support level hold, could see GFI test 8-day EMA at R140.80 very quickly, with a break and close above these levels most probably bringing back the R150 resistance. My personal short-term target is R168, but as a long-term holder of the group, wont necessarily be selling at these levels. Still believe that the sky is the limit with GFI . Going for Gold (pun intended)!
Trade active: Currently trading at the very "dangerous" R125 level