Fundamental analysis
1. Aurelia Metals acquired Dargues Gold Mine for AU $ 205 million.
2. Alexco Resources Group posted a larger loss in Q3 when the company reported a $ 5.5 million operating loss for Q3 2020, compared with a $ 1.9 million loss for Q3 2019. They confirmed the increase was due to an increase in rehabilitating and dewatering work at the Bellekeno mine in preparation for initial ore production in Q4 2020 and undertook a refurbishment of the Keno plant. Hill is preparing to put the plant into operation in the fourth quarter of 2020. Alexco also confirmed that he has completed the equity financing and issued 10,994,000 common shares at the price of $ 2.73 / share with total proceeds are 30 USD.
3. The US presidential election is very complicated and CEO Pfizer sells $ 5.6 million shares the same day the Covid-19 vaccine announcement is announced.
Technical analysis
1.Although the ongoing US presidential election is complicated and CEO Pfizer, which sold $ 5.6 million in shares the same day the Covid-19 vaccine announcement, created a candle Decreased strongly from 1965 to hard resistance zone, but when it touches this resistance zone, the price bounces up. Pay attention to the bounce-back of this upside wave and we see that the price is touching the 0.382 zones of Fibonacci. At the same time this region confluence with the past resistance zone of gold. That means that this area is a hard resistance for the price increase, ie gold wants to rise higher requires a strong force to rise through this area (strong and decisive).
2. Consider hard resistance. If the price has touched here 3 times, the reaction wave will increase, but notice that the amplitude of the reaction increases again after touching this area. It can be conjectured that this resistance zone is weakening, the push up is not much (unless suddenly pumped into this area a strong force - pump may be caused by very large banking institutions or governments. purchased as shelter ....)
3. Keep an eye on the candlestick and see that this week's candle closes as a bearish candle and that the last H4 candle of the last day of the week is a hammer candle at the top of a bullish wave (this predicts a reversal. dimension of gold).
Synthesizing the above analysis, the market judgment includes
+ The market trend in the medium term of gold is down (price down). Correct signal when the price falls through the hard resistance zone strongly, then entering will be less risky.
+ Next week, I am inclined to a sell (short) order at the Fibonacci area of 0.382, which is entry 1 (1880-1894), or entry 2 (1907) for the stop loss (stop loss) in the zone (1918). Leave the target price level (target 1 is 1863; target 2 is 1774).
Risk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, I am not responsible for your investment decision. Thank you.
Good luck!
1. Aurelia Metals acquired Dargues Gold Mine for AU $ 205 million.
2. Alexco Resources Group posted a larger loss in Q3 when the company reported a $ 5.5 million operating loss for Q3 2020, compared with a $ 1.9 million loss for Q3 2019. They confirmed the increase was due to an increase in rehabilitating and dewatering work at the Bellekeno mine in preparation for initial ore production in Q4 2020 and undertook a refurbishment of the Keno plant. Hill is preparing to put the plant into operation in the fourth quarter of 2020. Alexco also confirmed that he has completed the equity financing and issued 10,994,000 common shares at the price of $ 2.73 / share with total proceeds are 30 USD.
3. The US presidential election is very complicated and CEO Pfizer sells $ 5.6 million shares the same day the Covid-19 vaccine announcement is announced.
Technical analysis
1.Although the ongoing US presidential election is complicated and CEO Pfizer, which sold $ 5.6 million in shares the same day the Covid-19 vaccine announcement, created a candle Decreased strongly from 1965 to hard resistance zone, but when it touches this resistance zone, the price bounces up. Pay attention to the bounce-back of this upside wave and we see that the price is touching the 0.382 zones of Fibonacci. At the same time this region confluence with the past resistance zone of gold. That means that this area is a hard resistance for the price increase, ie gold wants to rise higher requires a strong force to rise through this area (strong and decisive).
2. Consider hard resistance. If the price has touched here 3 times, the reaction wave will increase, but notice that the amplitude of the reaction increases again after touching this area. It can be conjectured that this resistance zone is weakening, the push up is not much (unless suddenly pumped into this area a strong force - pump may be caused by very large banking institutions or governments. purchased as shelter ....)
3. Keep an eye on the candlestick and see that this week's candle closes as a bearish candle and that the last H4 candle of the last day of the week is a hammer candle at the top of a bullish wave (this predicts a reversal. dimension of gold).
Synthesizing the above analysis, the market judgment includes
+ The market trend in the medium term of gold is down (price down). Correct signal when the price falls through the hard resistance zone strongly, then entering will be less risky.
+ Next week, I am inclined to a sell (short) order at the Fibonacci area of 0.382, which is entry 1 (1880-1894), or entry 2 (1907) for the stop loss (stop loss) in the zone (1918). Leave the target price level (target 1 is 1863; target 2 is 1774).
Risk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, I am not responsible for your investment decision. Thank you.
Good luck!
