Hello Traders!
AAU looks like a solid opportunity to go long for the near future. The MACD has recently crossed over the 9 EMA and is now far above it, indicating strong bullish momentum. The 50 SMA acted as resilient resistance in June/July, as did the other SMAs before it, and now that the price has crossed above all of them, the bullish momentum has intensified in the last few days. Since the RSI is dangerously close to overbought, we should expect the price to dip below the 0.6165 support/resistance again, to bounce up again and cross over it (the buy signal). The first goal is the 0.7446 support/resistance and the second (if the bullish momentum should continue to be strong) is 0.8099.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
AAU looks like a solid opportunity to go long for the near future. The MACD has recently crossed over the 9 EMA and is now far above it, indicating strong bullish momentum. The 50 SMA acted as resilient resistance in June/July, as did the other SMAs before it, and now that the price has crossed above all of them, the bullish momentum has intensified in the last few days. Since the RSI is dangerously close to overbought, we should expect the price to dip below the 0.6165 support/resistance again, to bounce up again and cross over it (the buy signal). The first goal is the 0.7446 support/resistance and the second (if the bullish momentum should continue to be strong) is 0.8099.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
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