XGD ( Gold Miners) Index re visited 11/04/2016.

What a difference couple of days made with this ASX Gold Miners Index, ticker code XGD.

It had broken two resistance levels with a highest high end of day close today in two days. Price action is still range bound/congested in the medium term, with it’s short term trend is now also turningĀ up. Long term trend as we know had been up for a fair while.

A decisive breakout and a follow through above the highest level shown on the chart, marked as a pivot point, may suggest higher prices to come.

OBV at the bottom window is also maintaining it’s bullish posture supportive of the price.

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.