OGC.ASX Re Visited In Weekly TF.

As it happens in real-time ( almost anyway) OGC.ASX analysis not historical. I am paying the utmost attention to my Gold stocks, which OGC.ASX is one. I have divided the current trading range into phases where Phase C may be about to be complete. Phase C low, if lower than that of CLIMAX LOW is considered SPRING/SHAKEOUT/WASHOUT/BEAR TRAP. Where I marked as “DOUBLE SPRING ???” may be considered SPRING in relation to the current pattern as well as the next higher TF . The boundaries of the next higher TF is marked with Green UP TREND CHANNELL and the current trading range with Red support and resistance lines.

With the FLAT TRADING RANGE ( see Red support and resistance lines) if we see a new high today violating the internal Blue trend line, that would be the CREEK JUMP as well as the successful spring test.

In short : As long as the $3.09 is respected OGC.ASX and in the short term price heads towards the resistance zone of $4.80, I will follow the price. $3.70 is a minor resistance also, which may be worth noting.

I won’t get over-exited about a major potential breakout at this stage which we are way off .

Disclosure : OGC.ASX is held.

FREE chart is courtesy of tradingview.com

ogcweekly24012018

Disclaimer

All the information and analysis provided on this website is general in nature and for educational purposes only and does not constitute financial advice. No content in any way implies a recommendation to buy, sell, hold or short sell any financial instrument, nor is it financial advice.

Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration.

Links to other websites are inserted for convenience only and do not constitute endorsement of any of the material on those sites, or any associated organisation, product or service. Kazim Agaoglu is not responsible for the content of any site owned by a third party that may be linked to this website and such links are provided as a courtesy with no judgment or warranty being made concerning the suitability, accuracy or otherwise of the content on any such site.

Kazim Agaoglu disclaims any undertakings, warranties or guarantees, express or implied and shall not be liable for any loss or damage whatsoever arising out of in connection with the use of or reliance upon any of the information on this website. The user accepts sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information on this website is no substitute for financial advice.

 

 

 

Comments are closed.