To Note is research commentary is intended to alert to client to a potentially significant level or development, mainly from a technical perspective. Further, the content gives clients access to the analyst's perspective of an instrument which can help in preparing for a potential trading opportunity.
Anglogold Ashanti (ANG)
The share has unwound from it's high of 55688c to yesterday's low of 35040c.
This low is in line with: (1) the 61.8% Fibonacci retracement zone and (2) a range just above the 200-week simple moving average.
Considering that the share may be approaching oversold levels on a weekly (medium) basis, traders need to monitor for an improvement in price action which includes candle structure.
Anglogold Ashanti (ANG)
The share has unwound from it's high of 55688c to yesterday's low of 35040c.
This low is in line with: (1) the 61.8% Fibonacci retracement zone and (2) a range just above the 200-week simple moving average.
Considering that the share may be approaching oversold levels on a weekly (medium) basis, traders need to monitor for an improvement in price action which includes candle structure.