PX: Good scenario for trading

Philex Mining is trading sideways for almost a year now. I've been cost averaging since then. Happy anniversary to my shares! :)

It'll be frugal to buy PHP 23.00 and below. Cut price when 200MA and RSI Support breaks. This might probably be around PHP 22.50. A conservative TP is PHP 26.00.

The good points here are:

• Daily Chart, 50 MA is above 200MAthough 50MA is acting as resistance.
• EW, possible triangle ending pattern.
• Weekly price is supported by 50MA and RSI is nearing support.

 

With bearish divergences being persistent in indices world wide, will gold have it's comeback?