Gold Fields' Short Term Structure
Last Thursday, I made the following comment on the trading desk/to clients, at 17333c.
Gold Fields (GFI) - Short Term Potential To Repeat Price Structure As It Nears Overhead Resistance
- Following it's short term surge, price trades near the overhead resistance and swing highs seen during May and June.
- Overhead resistance is yet to be tested however following should this occur a period of consolidation may ensue.
- The 7-day RSI trades at 90 - a strong but overbought reading.
- Ultra short term traders could use the aforementioned resistance zone to reduce positions, with a view to re-enter on a retracement.
Daily Chart Attached
Gold Fields (GFI) - Short Term Potential To Repeat Price Structure As It Nears Overhead Resistance
- Following it's short term surge, price trades near the overhead resistance and swing highs seen during May and June.
- Overhead resistance is yet to be tested however following should this occur a period of consolidation may ensue.
- The 7-day RSI trades at 90 - a strong but overbought reading.
- Ultra short term traders could use the aforementioned resistance zone to reduce positions, with a view to re-enter on a retracement.
Daily Chart Attached
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.