Anglo Gold Ashanti - The big bad Vuvuzela
A Rare broadening Triangle formation has formed on Anglo Gold.
This is a triangle that broadens outwards instead of inwards to the apex.
I like to call it a Vuvuzela formation.
Now right now the bias is sideways as it needs to break out of the range.
However, we can say technically it should break down as the prminent and previous trend was down.
But we are talking over 20% crash. And as an optimist with gold it's quite a bearish target to set.
Let's see who it plays.
This is a triangle that broadens outwards instead of inwards to the apex.
I like to call it a Vuvuzela formation.
Now right now the bias is sideways as it needs to break out of the range.
However, we can say technically it should break down as the prminent and previous trend was down.
But we are talking over 20% crash. And as an optimist with gold it's quite a bearish target to set.
Let's see who it plays.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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