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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.