Inv Cup and Handle pattern has formed on the daily. We've had the price break below the Brim level but only barely. As a conservative trader, we'll need a stronger break down before there are any fireworks. So I'll be watching this one carefully. Other indicators show upside to come. 21>7 (Bearish) Price >200 (Price heading towards it). RSI<50 (Sell...
W Formation formed on GFI a while ago. The price broke up and since then it was moving up for the first few weeks. Then when the gold price started its consolidation, so did the gold companies. This has formed a falling wedge. Once the price breaks above the pattern, we will see it continue its upside. RSI>50 - Bullish 7>21>200 Target R346.54 REALITY:...
W Formation formed on GFI. It looks like a CUp and Handle but the second rounding bottom is more than 50% of the cup, so we call this a Short Formed W Pattern. In some cases, you can say it's even stronger than the basic as the price failed to make a new low - showing how strong the buying is. RSI>80 - Bullish 7>21>200 Target R346.54
Inv Rev Cup and Handle formed and the price broken below the Brim level. There were mixed signals with the indicators and I warned you that we need the price to break and confirm below the 200MA. Which obviously, it tested reversed, Smart Money jumped in swept liquidity and pushed the price up. However, it's not just Smart Money to blame. Gold had a bit of...
Keep an eye on Gold Fields, after a roaring run from the lows seen in September last year and touching a high of R215 in January, the stock has corrected in February to an important level which could provide support. R175 is where we find both horizontal support and the anchored vwap from the Sep 22' lows. If we do bounce we could run up to R198 - R199 where it...
Gold Fields we made a BROAD analysis over the medium term. As it is one of the smaller gold companies, I like to widen the stop loss and take profit accordingly. So, it's not hit our stop loss yet at R173.80. But it has broken below the uptrend. Best we can do is just wait, hold and hope. But if it doesn't work out it's just another 1.5% loss on the portfolio,...
Cup and Handle has formed on the daily and it follows with the upside in the gold price We have the 7 > 21> 200 MA and Price> 200 which is bullish Target R289.22. We also have the Chinese New year with consumers buying gold as gifts, which can push up demand for the metal. We've seen a bit of a weakness in the U.S. dollar, which you can see with the DIXIE, which...
Nice bounce off the 200 weekly EMA for Goldfields (GFI:JSE) as gold price has seen a nice reversal midday. If the 200wema at R130 fails, we could be headed to R110-R115 which has some strong strong horizontal support. the anchored vwap from the sep18 lows also come in just under which should provide another level of support/
Gold price declined slightly after hitting a high of $1765. US dollar index formed a double bottom around 108 The near–term support is around $1730, resistance around $1760
JSE:GFI currently trading below that week's closing price, R148-ish. The stock may test the R128/share area.
GFI is showing a potential down move based off of our momentum strategy. Although it happened a few days ago, the stochastic, MACD and the cross of the two EMAs are all triggers for a short position.
JSE:GFI is showing some signs of a change in momentum. We have been in a downswing since June this year and I think we could potentially see a move upward. It is currently bouncing off of a strong support level and if not a complete reversal, I think we could at least see a retracement upwards before continuing downwards. I will wait for the two EMA's to cross in...
JSE:GFI bounced off of the strong support at around the 12700 level last week. In the past, it has gone up from this level. It is currently at another resistance level and if it breaks through that, I think it will go upwards for a nice long position.
This can turn out to be quite an important support level. A break lower can most probably test R125 again, with a break below R125 not looking healthy for Gold Fields (GFI). We are getting mighty close to a Death Cross, which I will be monitoring very closely. GFI however do find itself in EXTREME OVERSOLD (with the Gold price itself) according to its 14-day...
JSE:GFI is showing some upward momentum and we could see an upward move if it breaks higher than this morning 's opening. The stochastic and MACD are both confirming this move with their upward turns and the 3 and 15 EMA's have recently crossed upwards at quite a strong support level.
JSE:GFI has bounced off of a support level and looks like a upward move is a possibility. The stochastic and MACD are confirming this momentum. If the price moves up above the 15000 level I will consider a long position. Beware that it might find some resistance on the 200SMA, so if it breaks through that, it further confirms the move.
JSE:GFI has formed a falling wedge pattern and has broken out of the top 3 days ago. If it continues up, I will consider a long.
JSE:GFI is trading in a small channel and is looking like it's on its way to the top of the channel for a small upward move.