MadButcherWA

NCM.ASX Broadening Bottom

ASX:NCM   None
Newcrest has been slow to catch up to the gold party, so it makes sense given the recent moves on gold that there is a bottom being put in here. There is a double bottom within the broadening bottom that is playing out. I'm looking first to see that the 20 day moving average holds. Then once thats held a break of the red trend line and the 200 MA will all be bullish indications setting us up for a break on the upper edge of the blue lines defining the pattern. I would be looking for this to at least push to the previous high of $38.
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