Tuesday, 31 July 2018
Yamana Gold (NYSE: AUY): 31 July 2018, Tuesday, 8.05pm Singapore Time
31 July 2018, Tuesday, 8.05pm Singapore Time
(Click on Technical Chart above to Expand)
Attached is the Technicals of Yamana Gold, a Canadian company that is also listed in the US Market (NYSE: AUY). It is in tune with my expectation of Gold about to resume its long term uptrend again. As Gold had been making way too much consolidation, its target will not be merely $1550-$1600 an ounce anymore. Gold target is an almost guaranteed $2000 an ounce with an expectation to break out $2000 an ounce psychological resistance. Yamana Gold will benefit from such a macro-economic tide. Already, at $1200 an ounce of consolidation for Gold (testing patience), Yamana Gold has made way much higher high, using a big rounding bottom of re-accumulation. The volume flow is bullish as illustrated on chart. Expected trajectory is also as illustrated on chart.
The Donovan Norfolk Technical Rating: