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Long term view on Yamana GOLD - Weekly Flag Pattern
Today we will take a look at Yamana Gold. We posted about Barrick Gold yesterday and XAU/USD last week (link in related ideas). Today we will put them all together.
On the Weekly chart, we observe two clear structures.
a)The support resistance zone from 2015
b) 280 days ABC flag Pattern
As we have a clear impulse before the Flag pattern, we can draw Fibo extensions and project targets. In this case, we have Target 2 and Target 3 as an expected move after the breakout of the Flag pattern.
Target 1 is the first level for trades inside the Flag Pattern (There we expect another correction of a smaller size)
Now, we will add to this post 3 charts that may be relevant for Gold traders and Mining Companies.
BARRICK GOLD CORPORATION
GOLD FUTURES
Thanks for reading!
On the Weekly chart, we observe two clear structures.
a)The support resistance zone from 2015
b) 280 days ABC flag Pattern
As we have a clear impulse before the Flag pattern, we can draw Fibo extensions and project targets. In this case, we have Target 2 and Target 3 as an expected move after the breakout of the Flag pattern.
Target 1 is the first level for trades inside the Flag Pattern (There we expect another correction of a smaller size)
Now, we will add to this post 3 charts that may be relevant for Gold traders and Mining Companies.
BARRICK GOLD CORPORATION
GOLD FUTURES
Thanks for reading!
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