AngloGold Ashanti (AU) Rocketship is boarding
AU is in a falling wedge pattern and has bullish divergence forming. It seems to have found a local bottom with a clear W pattern. Measured move would bring us up to around $32.32 near the .5 fib. The .618 fib is coming in around $35.93. This could take some time to play out but things are looking up for this mining stock. My best guess is that the stimulus will be the power it needs to run.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.