GoldfieldsTechnically looking weak; bear flag developing on the daily chart.
A lot will depend on the gold price trajectory.
Market insights
Goldfields looks good above R160Gold fields looking good above R160. Hopefully break the gold price will break higher soon
Red or Blue Path, Gold Stocks Should Do Well SoonGive it a few months, gold will lead gold stocks...
Possible reversal on GoldfieldsJSE: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.
Go for Gold(fields)!Just a follow up on my 12 November GoldFields call. Click to see that call:
So we ended up testing that R127 support level and for now, it held up quite nicely. Seems like the Gold Price is somewhat oversold and the US Dollar Index ( ICEUS:DXY ) is still dropping like a rock.
With today's break and close above the ultra-short-term 8-day Moving Average (EMA), I'm getting a lot more excited, with the next resistance level at R153 looking quite reachable. Should we see a break and close above that level, could place us back into the falling wedge, with R173 then becoming my next target.
R205 still remain my short-term target on GFI. If you follow a stop-loss strategy, I would recommend looking at R123.50.
GFI LongBuy at support line
Entry 8.8
Stop 6.8
Target 14.5
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If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
small bet on gold minersSequential 13 and Combo 13 on $GFI yesterday. I'm adding for the anti-dollar bet.
Bull flag on Gold fieldsGoldfields around its support today. will be interesting to see if it will bounce like Gold did. Gold miners will be interesting if the gold rally from earlier in the continues.
Gold Fields on a knifes edgeAgain, Gold Fields finds itself at a crossroad. The trading update from the company this morning looked positive, and we maintain our buy recommendation on the GFI. See our recent report: oldoak.co.za
Technically, the share price still finds itself within the falling wedge pattern, with the bottom support-line being tested for the third time this week. We also see the share price getting dangerously close in breaking below the 200-day Moving Average (EMA). All three the shorter-term EMA’s (8, 21 and 50 day) are pointing downward, which indicated that the trend is not the Gold-bull’s friend currently. I would caution any short-term long position and would rather wait for confirmation that support did hold-up.
Should the support not hold up, we can very much see the share price back at the R127 levels. Should support hold and we see a break and close above R185.44, could very much bring the R200 back into play. I would, however, recommend that all trader rather do nothing for now.
Falling wedge breakout on GoldfieldsJSE: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.
Goldfields to move to top of channelJSE: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.
Make or break for Gold Fields?Gold Fields broke below both its 8-day Moving Average (EMA) and medium-term support level yesterday. Looking at the US Dollar Index last night and this morning, I do think that this might turn out to be a false break. See the link to my US Dollar Index/Gold Idea of the 17th of October. With the USD Index now trading below 93, I do think that the next stop for the Gold price could very much be $1925/oz. Should this turn out to be a false break for GFI and we see a break and close above the 8-day EMA (R206.80), my short-term target the become R220.
Also, remember to read our recent research report on the company here: oldoak.co.za
GFI Long ContinuationGFI ready for next movement Up
Wait for the confirmation Breakout
Gold demand outpacing Supply
GFI - Short idea should we have a break of R220GFI is find it hard to maintain momentum and R230 has found some heavy resistance. The other golds have dropped but GFI has held strong. Should we see a drop of R220 we could see a nice move down R200 and maybe even further.
GFI LongGFI
the sell of of Gold stocks was worse than expected due to the bad
Job Data from america indicating a far bigger rise in gold to be expected
we could see 4000 dollars the main instigators are?
known as the trifecta trade against the dollar
Government stimulus ( 4 trillion with no end in sight )
a Tec War with China ( Tik Tok and Wechat )
and the Corona Global Pandemic ( no vaccine in sight )
Giving Investors a once in a lifetime opportunity for Gold and Silver
BUY>
GFI LongGFI Long term trade ( LTT ) of C&H Pattern completion level R300
that is still R40 to go as seen on weekly chart
trade performing as expected
before a correction is due.
