Lundin Gold INC to test 89 SEK resistance in 2020?
Supported by higher gold prices I am beginning to believe that Lundin Gold Inc (LUG) will retest the resistance at 89 SEK within 2020.
A new trend seems to be forming based on the June low and recent July low.
I am placing my stop loss below the June low at 73 SEK. This is well below the new trend, leaving plenty of room for price variation.
Lundin gold, being a gold producer is obviously highly correlated with the price of gold. Initial price target is 89 SEK but subject to revision should the price of gold stabilize itself above 1800 USD per ounce.
A new trend seems to be forming based on the June low and recent July low.
I am placing my stop loss below the June low at 73 SEK. This is well below the new trend, leaving plenty of room for price variation.
Lundin gold, being a gold producer is obviously highly correlated with the price of gold. Initial price target is 89 SEK but subject to revision should the price of gold stabilize itself above 1800 USD per ounce.
Nota
Errata at third paragraph. July low should be June low.Trade ativo
Nota
In lieu of the stabilized spot price I've increased my price target to 91 SEK.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.