'Back to the 1.10 mark'? No, I don't think so Mshaukat.
Since 28Aug13, AGO has been in a higher lows (0.755, 0.805, 0.845, 0.985/0.990 and 1.082) and higher highs trend, peaking yesterday at 1.240, although the increase between each high has been getting less each time, suggesting a cresting and turning point into a new down-trend. But I don't think this will happen. If you project a trend-line under the recent lows, it projects to about 1.15/1.16. IMHO, if it bounces off this point, or higher, it will proceed to a new high. If it goes as low as 1.10, it will then probably track sideways for a while, or even go into reverse. Despite noting a 'bearish engulfing' pattern for today, Aussiebulls still has a 'stay long' advisory on it.
AGO Price at posting:
$1.19 Sentiment: None Disclosure: Not Held
