Randgold Resources stock (NASDAQ:GOLD) has broken out of a strong
base that was formed in the last few months. The first two months of this year
was characterized by a strong rally, followed by a strong consolidation that
occurred within the last months of the year 2016.
Right now, the price has gone above the upper Trendline, as the RSI
period 14 goes above the level 50. This is a bullish signal, which comes in
solidarity with the bullish engulfing pattern candle that saw the close of the
market last Friday.
Randgold stock is expected to continue its upwards journey, reaching
the resistance levels at 100.00, 101.00 and 102.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders
Don’t Want You To Know: Super Traders
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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