$GLD Newgold ETF. Consolidation lower or bullish flag ?Is this consolidating lower or are we seeing a bullish flag . If this is indeed a bullish flag, a break would open the 4600 target. One to watch.
About ABSA NEW GOLD ETF
Home page
Inception date
Nov 1, 2004
ISIN
ZAE000060067
NewGold continuously tracks the gold spot price and enables investors to invest in a listed instrument (structured as a debenture) in which each security is equivalent to approximately 1/100th ounce of gold and is fully backed by holdings of gold bullion with the NewGold Custodian, ICBC Standard Bank.
Investing in the Absa Gold ETF listed on the NSEHello,
Investors in Kenya and the wider East African region have long had the opportunity to trade in Exchange Traded Funds (ETFs) following the launch of the Absa NewGold ETF on the Nairobi Securities Exchange (NSE). This groundbreaking ETF, also listed on the Johannesburg Stock Exchange (JSE), ha
#GLD Newgold etf on the cusp of a massive breakoutNewGold ETF which tracks the rand price of Gold has been knocking hard on the R360.00 level. A breakout of this level should see an explosive move upwards which possibly supports the longs i am seeing in DRD and AngloGold. The break of the flat top triangle targets R386 which is an approximate move
GLD Weekly BreakoutGLD showing signs of Bull trend
not only is the weekly in reverse H&S but in breakout mode as well
volatility is up and Bitcoin is Bearish , retreating thus breaking the link with Gold
as a hedge
$GLD Newgold ETF Bull flag breakNewgold target is 290, although from experience I know that precious metals rips can be vicious and overextend targets by considerable margins at times.
NEWGLD - ObservationAn inverted head and shoulders has developed on the NEWGOLD etf
The instrument does well on a weaker rand / stronger gold price..
NB: This can be quite a volatile instrument to trade.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
$GLD Newgold ETF. Flag buildingBullish looking flag building. A break would open a 29000 target on this chart. Wait for the break.
GLD LongGLD about to turn on afterburners
Elliot 5 th Wave set up for perfect breakout ?
what will be the trigger
only time will tell
See all ideas
