YoungAnalyst
Long

Trend is changing, background is favourable for longs (daily)

AMEX:NGD   NEW GOLD INC CDA
The weekly chart shows that accumulation is going on. On the daily chart it is possible to see that demand levels (in green) are respected and supply levels taken out (up trend). Price is currently at a previous demand level and last day was a test from a VSA             perspective (low volume hammer). Good long positions can be executed entering now or, in a more conservative way, waiting a retest of the range. A good SL level is below the range.
Weekly chart:
Trend is changing, background is favourable for longs (weekly)

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