The last coverage of Anglo Gold Ashanti was on 05.07.2023, link below.
The move down from 55688 was still in three waves but now it is clear that a five wave impulse for wave A is forming as part of a larger zigzag ABC correction.
There are no reversal signs yet but it is a bit late to short so I will monitor price for reversal patterns and until then, I will...
The previous bullish idea has been invalidated. JSE:ANG failed to find support at the support level, and to bounce at a key MA. JSE:ANG has broke below the 200 dMA, not looking for long opportunities as long as it remains below this level.
JSE:ANG could be onto something. The stock cracked weeks ago witht the rest of the gold stocks. We noted a potential support level, and now the stock is trading above a key MA. It looks bullish to me.
Still tracking an idea that the fib retracement tool with an angle can be placed in a certain way on charts that reveal a pattern that repeats itself over and over and over moving from fib to fib with volume only affecting the speed or time it takes and the amount of retracements or lack thereof. Have started For the first time trying to implement it into trading...
Price pulled back to the rising 200dma and has shown support in that zone.
We back above the short term 20ema moving average and the macd has indicated a shift in the tide.
Stoploss & Target on the chart.
The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a...
Possible trend reversal from upward trendline dating to September 2022. Break out of falling wedge will trigger buy with a tight stop . Stochastic oversold and pointing up. Could be a short term relief rally which will trigger possibly a smaller target. strong reversal candle today.
Inv C&H has formed on Anglo Gold.
21=7 And seems to be crossing down.
Price>200 - This is Bullish but with the price so far away from the MA means, there would be a sling reaction to take the price back down.
RSI<50 - Bearish biased.
Target is at R337.00 for shorters.
THOUGHTS:
This was completely unexpecting as the JSE ALSI seems to be heading up.
The...
Following a promising rally in TVC:GOLD futures, gold miners benefited from the rally. However, JSE:ANG has given back all the rally gains. JSE:ANG is now trading below what was a potential support level, and it's trading below the 200 dMA. From this view, the stock is bearish, but fakeouts do happen.
Anglogold shows how fear trades can cause traders to be irrational, buyers are moving in at current price, there is quite a distance from 200 day moving average while price is testing the upper resistance of a broadening wedge. History does not repeat but often rhymes, ANG had a similar broadening setup from March 2020 lows that morphed into a long bearish trend....
The last analysis on ANG was on 26.05.2023, link below.
The stock traded as forecasted but is now at an interesting juncture.
The sell-off from 55688 has entered bear territory as the stock is now more than 30% off that high.
The bear move has unfolded in three waves which I have labelled tentatively.
The ABC implies an almost complete zigzag whereas the 123 is...
JSE Gold Miners: High Bearish Momentum / Approaching Oversold
A group I am monitoring over the next few days. For short term traders.
Legend = Short Term, 7 Day Trend
Head and Shoulders inverted pattern on the 4Hr chart.
This can be seen to have occurred at the middle line of an up channel.
With each shoulder finding support at the middle line.
I expect continuation up and possibly even breakout of the channel up.
Anglo had a strong run since the last analysis, link below.
The rally from 23.02.2023 unfolded in five waves and price has broken below the origin of wave ((v)) of 5.
This implies that five waves 1 to 5 is complete and we should expect a correction in the stock.
I have overlaid the stock price with the spot gold price and its clear to see that the gold price has...
Anglo Gold Ashanti has had a great run from the September 2022 bottom at 21300.
The banking crisis of the last few weeks has triggered a surge in gold as a safe haven buy and subsequently gold stocks.
Looking at the charts, I see textbook five wave advance from 21300 to the current price.
Wave 1 is relatively small and deeply retraced by wave 2.
Wave 3 is...
Similar to GFI - This gold ticker is a hit.
Remember where you first heard and seen
these picks.
Safe stop loss and amount of soldiers at risk.
Each dollar is a soldier a terrible general loses
men then eventually the war.
Gold stocks were showing extreme relative strength last week with intensive bearish sentiment in banks, seeing RSIs between 70-80 and RVOL above 2. ATM we need to see some pull back to get a favourable RR setup. With the bailout news over the weekend I suspect we will certainly get a chance for a dip into support like we've see most days last week. GOLD is still a...
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This idea is with reference to my comment via video on Tuesday 27-Dec-2022 ( link omitted to comply with Trading View house rules ). Key drivers for a short to medium term sell trade: (1) Overbought rating on 3-day, 7-day &...
