RANDGOLD

End of April is a good time to start looking into gold.

I am working on a strategy to get into either Fres or RRS and I think the bottom is being made at the moment.

5300 very good historical support and it seem there is a MACD bullish divergence and a break of the lower trendline for OBV, prior to the actual price action. Volume always precedes price...

Apologies - free charts so not so accurate

Charts attached:
dl.dropbox.com/u/4385922/rrs2203.png

OBV
dl.dropbox.com/u/4385922/rrs_obv_2203.png

comments welcome

Remo - may i add that the downtrend line for OBV has also been broken....

It looks bullish at all counts:

MACD - there is a triple bullish divergence
OBV - downtrendline broken
RSI - on the up

Looks promising IMHO

This is in a trading range of 300 points.
If it breaks out ether way then worth a long or short depending on direction of breakout.
One to keep an eye on.
This is a very volatile share so bear that in mind
Long above 5630
short below 5331
I always place my entry or stops 5 pips below or above the stated levels

Did anyone managed to go long on this? Perfect Hammer? and I guess this was the reversal point last time... around 5330p.....

dl.dropbox.com/u/48916784/RRS-21.02.2013.jpg

This is one of the charts I have put up in the interesting chart section.
I'm expecting this to go lower towards the 45 area . Full 100% retrace???

my last view was "risky scalp" at fib 61.8...it was indeed risky, but it did bounce before it then fell back (sort of expected) and for now (from memory) 53.50-54 was a number that used to be pivotal and after any backtest will probably head there...my view for gold at the minute is sell the bounce

last view



tonights view