LONG FRESExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
FRES trade ideas
MA's moving 2 positive divergence & trading @ discount to silverFRES trading at discount to silver and 20/80 MA's moving towards positive divergence. Price target of 900 with the discount to silver removed.
Fresnillo, decent short below the lineIf we get a break below the signal line then this looks to be a decent risk reward. LSE:FRES
FRESNILLO medium term bullishFalling wedge, gold making a similar pattern and breaking out today. Any significant move in gold should inspire a simultaneous move in Fresnillo. Fib targets.
FRES Coiling Long TermFresnillo is still coiling on the weekly, likely to last into 2020 before any sign of a true breakout. Significant weakening of the USD - likely given their 'not-QE' $120B stimulus package - will lead to a rush to relatively cheap gold.
Fresnillo - LongA different perspective to the post yesterday - shows some further downside is possible, with upside looking good for a medium to long term hold.
Managing positions and sizing into the stock as it falls further seems the best bet.
Go LongAnything around 6 looks good.
We may see a retrace to around 585
With current uncertainty and gold and silver looking extremely strong I think this could pay off handsomely.
Its also the perfect hedge for most investment portfolios.
Long FRESExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
FRES Support lineFresnillo resting at support. If support holds, this is a good buy zone in my opinion
channel up fres?clear support and resistance line, entry set above the bounce to catch it along the upside
Fresnillo is closing-in on a major breakoutThe descending trend line has been breached today following the sideways action seen over the last two weeks. A daily close above 1600 would open up upside towards 1738 (which is a double top neckline seen in Aug 2016.
Long term buyer of FresnilloFRES looks to be ion a longer term pattern that suggests that we should be looking to see a move back into the low £20.00 on a longer term field.
I would be a buyer of pull backs here and want to watch for multidigonal patterns on the precious metals and indices to look for shorter term trading opportunities within this implied bull run.
Should have taken this tradeWas obvious... Waiting for a reconsolidating to get bullish on gold again. SEPTEMBER ISM PERMITTING
Fresnillo – Double top breakdownFresnillo is down 3.61% today and is a top FTSE100 loser.
The daily chart shows –
• Double top breakdown
• Money flow index approaching oversold region for the first time since November 2015
• RSI is approaching oversold region for the first time since July 2015
Overall, prices appear on track to test 1500 levels (100-DMA), although a minor pull back once indicators hit oversold territory cannot be ruled out.
Bearish invalidation is seen only once prices see a daily close above neckline level of 1738 levels.
Fresnillo – Double top on daily chartFresnillo, the precious metals miner, is the top loser in the FTSE100 index; down 5.42% at the time of writing.
Pattern – Double top on daily with neckline at 1738
Sliding daily RSI and money flow index coupled with a sharp drop today suggests prices are likely to test the neckline support at 1738 levels.
A day end close below neckline would signal trend reversal on larger scheme of things and open doors for a drop to 1400 (100-DMA) levels.
FRES Long ideaMy first published idea. Looks like it is following ABCD pattern. Got in at 1850 hoping to break the 2000 barrier.
