The second chart is particularly interesting. It shows the bears to be in control initially, probably driven by algorithms, as it precisely works the lower Bollinger band. But now a change is implied by the appearance of a Bullish Doji Star. Technical analysis rule implies things are not favourable for the continuation of the bear forces. So your support line is spot-on.
Further to that AUD gold price is still looking strong at $1828 with most indicators pointing to weaker AUD in the near future.
Bottom of Channel Alert, page-11
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Last
44.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $360.0M | |||
| Open | High | Low | Value | Volume |
| 44.5¢ | 46.0¢ | 43.0¢ | $2.761M | 6.243M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8700 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.0¢ | 436397 | 4 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| SBM (ASX) Chart |