- As the rand weakens and gold price is increasing, this ETF has been a solid performer - Price has broken out of the diamond pattern and signals a continuation of the current up trend JSE:GLD -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
235 Target reached, but going to let this one run a bit until I see some bearish/consolidation signals. Trading this trend right to the end.
Newgold is looking bullish on the back of a risk off market. Target 235.
Still looking bullish.
Newgold had reached some support after consolidating in a falling wedge pattern. Longer term investors can start accumulating from the viewpoint that support will hold, and that the falling wedge will break to the upside. Gold futures is looking bullish, but the USDZAR needs to play along.
Newgold's breakout and subsequent 18% run was spectacular. We have however now moved into a phase of contraction that could last for sometime. Long term investors won't mind sitting on this one, but short term traders can look for better opportunities while this contraction is taking place.
R200 level can become a target if momentum is maintained above flag breakout level
Good accumulation zone - bull flag still on track
Risk off market indicator. Flat top triangle break. Target 18250.
Flat top triangle in the making. Break in 17550 level could open the way for a 18250 target.
Hourly close above lateral resistance has confirmed my bullish daily view.