LONG JSE:GLD
Newgold is testing a key short-term resistance level around R165.00. A clear breakout above this level will be a good buying signal. It has had a false breakout recently therefore be cautious of that when getting into the trade.
ENTRY: Clear breakout above R165.00
STOP LOSS: R160.00
TARGET PRICE: 172.00
Chart Source: Bloomberg
Timeframe: Daily
Musa Makoni | Trading Specialist at GT247.com
Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Enter our Ferrari Driving Expereince competition by clicking "WIN" in the image below. #WinningIsEasy
Want to trade CFD Equities, Forex, Indices & Commodities on the most affordable online South African trading platform?
