Long
Go Long Newcrest Mining. $NCM
We broke out of the downtrend today, I do think the price will fall in the next few days (profit taking) and then continue to go higher.
Why?
Because Newcrest is forming a very nice inverse head and shoulder pattern.
Technical indicators such as moving averages, MACD, RSI, and DMI are looking good and on the bull's side.
Furthermore, Silver and Gold prices are likely to continue going higher in the short-medium term because of central banks' actions.
I am holding this stock and will look to buy more for the short-medium term.
Why?
Because Newcrest is forming a very nice inverse head and shoulder pattern.
Technical indicators such as moving averages, MACD, RSI, and DMI are looking good and on the bull's side.
Furthermore, Silver and Gold prices are likely to continue going higher in the short-medium term because of central banks' actions.
I am holding this stock and will look to buy more for the short-medium term.
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