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My precious metals trade today: Neighbour
Joe Neighbour from Central Markets is looking to buy two precious metals stocks on the FTSE 100, Randgold (RSS:xlon) and Fresnillo (FRES:xlon).
Precious metal stocks rallied strongly in yesterday session. They have largely been in consolidation mode of late but in recent sessions they have started to break higher.
Both Randgold and Fresnillo have completed bullish flag patterns and now look set to continue pushing higher.
Neighbour is a buyer on the open this morning with stops below yesterday’s lows.
His upside target is 2200p on FRES and 10000p on RRS. Stop loss on FRES at 1850p and 8705p on RRS.
00:58 minutes
Tags: fresnillo, joe neighbour, mining, precious metals, randgold, saxo bank, saxo tv, saxotv, trade idea, trade view, tradingfloor.com
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