3D Resources Fib 50 bounce concept trade
Updated
DDD; developing Haiti based gold projects has consistent news flow expected as they begin to develop their gold projects. The Gold sector in general has been performing well recently
From a technical perspective the chart indicates that the previous move from 0.7c to 1.5c has consolidated after testing the 0.5 fib setting a base for the next move. The volume has dried up indicating that buyers/sellers are unwilling to exchange in this range for much longer. First target based on the return to trend is 1.5c (+36%) with the second target being the 1.618 extension which conveniently fits at the psychological barrier at 2.0c (+82%)
From a technical perspective the chart indicates that the previous move from 0.7c to 1.5c has consolidated after testing the 0.5 fib setting a base for the next move. The volume has dried up indicating that buyers/sellers are unwilling to exchange in this range for much longer. First target based on the return to trend is 1.5c (+36%) with the second target being the 1.618 extension which conveniently fits at the psychological barrier at 2.0c (+82%)
Note
Position expanded, further tightening in range with near term positive news flagged by company
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.