TradeWise Report The share price of Anglogold is still trading far below its 50 & 200-day moving averages and the long term trend remains bearish. The share price is also still trading within a down channel but we expect a breakout above the upper resistance trend line. Aggressive traders may enter this trade at Friday’s close of 12809c, while our target price is the 50-day moving average at 15067c and the upper resistance trend line of the longer term down channel. We place our stop as a close below the support at the 12017c level. Conservative traders can wait for a close above the resistance at the 13100c level. The Stochastic indicator is trading in oversold territory, while the RSI indicator is also trading near oversold levels and moving upwards, whilst also showing bullish divergence to suggest a rally soon. news.psgonline.co.za/2013/07/gold-bullion-surges-higher/
Posted on: Mon, 22 Jul 2013 07:53:06 +0000
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