The structure highlighted on 22-November now playing out. Original idea attached.
As noted at the time:
Gold Fields ( GFI ) - Short Term Potential To Repeat Price Structure As It Nears Overhead Resistance
- Following it's short term surge, price trades near the overhead resistance and swing highs seen during May and June.
- Overhead resistance is yet to be tested however following should this occur a period of consolidation may ensue.
- The 7-day RSI trades at 90 - a strong but overbought reading.
- Ultra short term traders could use the aforementioned resistance zone to reduce positions, with a view to re-enter on a retracement.
For more real-time insights and trade ideas, or if you're considering an alternative trading services provider, get in touch today.
As noted at the time:
Gold Fields ( GFI ) - Short Term Potential To Repeat Price Structure As It Nears Overhead Resistance
- Following it's short term surge, price trades near the overhead resistance and swing highs seen during May and June.
- Overhead resistance is yet to be tested however following should this occur a period of consolidation may ensue.
- The 7-day RSI trades at 90 - a strong but overbought reading.
- Ultra short term traders could use the aforementioned resistance zone to reduce positions, with a view to re-enter on a retracement.
For more real-time insights and trade ideas, or if you're considering an alternative trading services provider, get in touch today.
