NGLD trade ideas
AAL Short - Rising Price on descending volume.AAL Short - Rising Price on descending volume.
Rising price on descending volume and OBV. Possible retest of previous support levels.
Is Anglo American poised for a sell-off to 872?The share currently trades at 1080. A sell-off to 872 means 19% drop! This the downside target as per the measured height method. Take note of the large head and shoulders breakdown pattern.
The daily RSI is close to but not yet oversold. The weekly RSI shows a nice rounding top pattern and is sufficiently far away from the oversold region.
We also saw a typical shakeout of the 'weak bears' following the breach of the neckline on April 18. Prices then failed again to hold above neckline and here we are today... trading at 1080. It is not looking good for Anglo American and broader markets.
A drop to 872 (19% drop) looks likely if - Pound continues to rally and moves to 1.33-1.35 levels and oil, iron ore prices slump. Well one may also consider a potential Trump Slump or Marine Le Pen victory this Sunday.
What if Fed strongly hints at balance sheet reduction tomorrow? All these factors could yield a drop to 872
AAL - Looking For ShortI think we could see more downside for Anglo American, 2016 trend line break early March, now have the potential for Head & Shoulders neckline break and a 123 high break into lower low. My target from the breaks is 865
Heading a little lower perhaps? Not sure whether ABDCE wave will action or just a simple ABC corrective before wave 5 commencement.
Have 1160 area in sight for next leg up
any thoughts?
bullish its the best in my watching ...
im eagerly waiting for bullish candle for big uptrend ...
uptrend...pullback ending
watching ...buyit has been in my watching for almost 5 months ...
it has broken descending trend line...
but ive not enter to it because i dont see passing of a major area and in the chart im looking for breakout of colored area and entry to buy position...
i believe s/r zone will be broken so watch it very nice...
good luck
Anglo American – Bearish divergence & breach of rising trendlineThe daily chart shows bearish price RSI divergence followed by a breach of the short-term rising trend line.
The doors have been opened for a drop to 100-DMA levels, which is seen rising to 1020 over the next few days.
Bearish invalidation is seen only if prices retake rising trend line, while fresh buying is seen only in case of a daily close above the recent high of 1270.50.
Anglo American looking for some more downHi Everyone, AAL is looking corrective so we are waiting for it to break out of the lower trend line or bounce again off the top trend line. Once the trend line is broken we will be watching it on a lower time frame for a retest or consolidation before placing the sell order.
