juniortrader

Reversal at Major Support

Long
TSX:NGD   NEW GOLD INC
Besides the past few months, this year has been extremely bullish for $NGD. Now that price has come to a major support area, It looks like the trend is going to reverse. I really like this trade due to the Squeeze Momentum Indicator showing bullish divergence, while also indicating a squeeze is going to happen. Also, on the WaveTrend Oscillator it is near oversold with a buy signal, and it is showing bullish divergence too.
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