Possible ReversalJSE:GFI has reached a previous resistance level and we could possibly see a reversal at this point if it doesnt b reak through and form a higher high.
As always, I will wait for confirmation before jumping in.
Goldfields
GFI at turning pointJSE:GFI seems to be struggling at a support and it could make a turn around for a long position. If it cnfirms above Tuesday's candle, I will consider a long position.
$J150 JSE Gold miners index, ready to be accumulated once more?Think the chart says it all - a very important level of support here on the jse gold miners index. Also a 61.8 retracement of Nov/Dec low & Feb High. Perhaps a very decent area to accumulate gold miners once more. Ties in nicely with gold spot price breaking out its wedge #Bullish - #anglogold #sibanyegold #harmonygold #goldfields
GOLD FIELDS LTDPrice action idea for long term.
Levels speak for themselves.
Not financial advice. Manage risk & take care.
Morning Star on GoldFieldsA Morning Star pattern has formed on JSE:GFI which is a bottom reversal signal. This coupled with a bounce of the bottom support strengthens the signal.
A Morning Star is found after a preceding down trend where the 2nd candles body must be below the 1st and 3rd candles body. The 3rd candle must close above 50% of the 1st red body.
I will enter this trade long and try to reach the target at the top resistance.
