XGD (ASX Gold Sector) 23/03/2016.

As far as the price action behaviour of XGD (ASX Gold Sector) is concerned, it is rangebound (congested) in the medium term, within a major uptrend, looking at this XGD Daily Chart. Resolution out of this congestion area ( Trading Range) would more than likely determine the direction of it’s next move, UP or DOWN.

In TA, when stuck in a trading range, one may utilise the SUPPORT and the RESISTANCE of that range for short term  trades. Zone of 3200 is an important support level on the down side and 3600 – 3750 resistance zone on the up side.

I would like to see the DASHED UP TREND LINE drawn in BLUE respected in  order to maintain my long term bullish bias with XGD.

XGD Daily Chart below.



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.