Seems to be a bit of interest in Gold so I thought I'd throw up a chart on SBM. The first is the chart I've been following with some repeating ranges and EMA's (thanks Robbb). The orange range down seems to have played out. The falling wedge broke out nicely and we now have a higher low and interestingly the 195ema has become resistance. Thursdays price action looks to have closed above short term down trend resistance. A break above 28c might see the dark blue repeating range up to test resistance at 33c?
I only threw this fork on the chart tonight and it looks to be a good fit. SP looks to have been bouncing off the resistance tine on the light blue fork and has finally broken through. Interestingly the resistance tine lines up with the downtrend resistance in the chart above. Wait for a retest to confirm before entry and stops below 25c for a good low risk trade?
