A nice setup for a breakout spotted. Inverse H + S pattern. fibonacci also showing a resistance level.
ASX All Ordinaries Gold Index Constituents: ASX:ALK ASX:EVN ASX:GOR ASX:NCM ASX:NST ASX:PRU ASX:RMS ASX:RSG ASX:SBM ASX:SLR ASX:WAF ASX:WGX
The Australian gold mining index has demonstrated a strong rebound from recent lows, presenting a range of possible scenarios for the future. Three likely options are represented by the downward red arrows on the chart. It is difficult to predict which scenario is most probable, but a breakout to all-time high prices in Australian dollar terms could render all...
I don't have much to say about this chart, other than it looks bullish
This is likely the beginning of a new impulse phase for the miners
XGD - asx gold miners index has reversed directon 1. 3 green soldiers 2. Count back line is broken gold miners will predict a higher GOLD price in the coming months
-Fibonacci analysis of c-wave_possible last wave of set -currently in a position of extended flat which could possibly signal the end of the extension if it can hold the 1.272 extension level -we will see. its around here somewhere. the bottom. anticipate until confirmed and validated and not before
AU.XGD Possible bearish wedge - 15m
RSI is neutral Support around 50 % retracement and 30 WMA
Australian precious metals stocks appear to have double-bottomed on top of their previous slow uptrend channel. A further pullback in the gold price to the USD$1450 area (38.2%) will probably lead to the XGD retesting its current lows, but given the bearish look of the S&P500, this scenario is unlikely to last long.
RSI is neutral working off the overbought conditions of late July. Many stocks back to reasonable value again
Time to take some profits looking for a better entry over the next few months. The 30 week moving average as a minimum correction level
Long undervalued Aussie gold stocks seem reluctant to partake in any sharp pullback from their latest bull run. As of 6/27/19 the XGD S&P index have not even performed a 23.6% retracement. Leading precious metal stocks were holding values on Thursday, with spurts to the upside. North American stocks on the XAU, HUI and TSX all finished negative, but percentages...
Aussie gold stocks have moved with the latest spike in gold. But the RSI and MACD indicators are screaming overbought already, just three days in to what seems to be a revived bull run in the precious metal! A pullback in the overnight (Australian time) Comex gold futures will do the trick. What is impressive about this take-off in gold is that it does not appear...