ANG has shown support at R294 three times already and last week it touched that level once again. This looks like a nice R:R trade with a stop loss a close below R290 and target at R320 with a potential for further upside to R340.
I know that you cancelled the idea. However, dont you think it can still reach 320? I see an upwards movement
JonathanOtero7f
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@AlloysK, The trend on ANG has changed for the past few weeks. The trend is clearly down and with the potential of Fed interest rate hikes and further tapering talks the gold sector looks tough on the long side. I would rather wait for a short opportunity.