CMCL a junior GOLD miner moves on spot gold uptrendOn a 15 miunte chart. CMCL is seen trending down and then reversing while
traders seek to sync it to the price action of spot gold. The chart demonstrates
price reversing on May 2nd out of an anchored VWAP breakdown into a
rubber band reversal into a cross of the mean aVWAP. The movement of the
PMO ( Price Movement Oscillator) confirms the reversal into a trend up.
The ZL MACD shows a histogram flipping negative to positive with the
signal moving over the mean MACD. The last of the trading week shows
a big engulfing candle with a volume spike for me that spells momentum
straight out and simple
All in the all, I see price moving to a target of 12 over a period of a few days based on the
angle/slope of the trendline. In the context of the gold bullrun and the concept of a rising
tide being capable of lifting all ships, I see this as a very safe trade yielding
potentially 4% over a few days. This is more than acceptable given the chaos
and whipsaw action of the general market. If you find this idea helpful.
please like and follow and perhaps message me for a referred link to
TV pro. Trade well after DYODD !
