RANDGOLD

Remo - may i add that the downtrend line for OBV has also been broken....

It looks bullish at all counts:

MACD - there is a triple bullish divergence
OBV - downtrendline broken
RSI - on the up

Looks promising IMHO

End of April is a good time to start looking into gold.

I am working on a strategy to get into either Fres or RRS and I think the bottom is being made at the moment.

5300 very good historical support and it seem there is a MACD bullish divergence and a break of the lower trendline for OBV, prior to the actual price action. Volume always precedes price...

Apologies - free charts so not so accurate

Charts attached:
dl.dropbox.com/u/4385922/rrs2203.png

OBV
dl.dropbox.com/u/4385922/rrs_obv_2203.png

comments welcome

Hi Paitech,

I know you arête a gut feel trader. What do you think of the recent price action?

Cheers mate

False break-out to the upside now this has gapped down and broke the trading range to the downside

It bounced off the down trend line and the channel that was in place for the last few weeks.

Break of that channel and the rejection at the trend line + the fall in gold price is seeing this drop like a stone.

www.proactiveinvestors.co.uk/companies/n...ts-broker-55454.html

Randgold Resources' (LON:RRS) solid organic growth and decent gold price leverage make it the best bet among the mid-cap gold explorers, suggests Numis.
The broker says that while operating in Africa has its political and technical challenges, Randgold’s impressive track record makes it a defensive gold bellwether with a well-deserved premium rating.
Numis expects production to step up in 2013 and 2014 as mine issues at Tongon (Ivory Coast) subside, Loulo-Gounkoto (Mali) pushes ahead and Kibali (DRC) comes on stream.
Production will rise to over 1.3mln ounces per annum over the next few years, with costs falling below US$600/oz predicts the broker.
In 2013, output should rise to 935,000oz, as Kibali comes online in the fourth quarter. Further expansions at Loulo-Gounkoto, Tongon and Kibali may also be possible though currently are ore body or plant constrained.
Earnings are tipped to rise by 18% in 2013.
Numis adds that Africa is a tricky place to operate with ongoing political issues at Mali, Cote d'Ivore and the DRC and there could be "further wobbles" during the course of this year.
"Randgold is peer-leading in its approach to African politics and is likely to be able to navigate through the crossfire," concludes the broker.
Shares were 3% lower at 5,215p