Sunday, 20 August 2017

ANG

AngloGold Ashanti conducts mining operations in Africa, North and South America and Australia, and undertakes exploration activities in some of these jurisdictions and in other parts of the world. more.....


On the weekly chart we notice that the stock price has started to consolidate in a descending triangle or fallowing wedge pattern. While the momentum has turned and currently building.


Zooming in on the daily chart, we clearly noticed the price break (C) on high volume. The momentum indicator is currently within a compression area (A) and supporting (B) the price action (C).


The price is also at a neck line of a very ugly inverted Head-and-Shoulder pattern.  The measurement leaves us with a target of 148 / 150 price area. About 10%.


Trade with caution as the markets are very unstable and uncertain.
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