- Ongoing downtrend set to be challenged at $118.5 as top of an established support zone
- The upper Bollinger Band® of Royal Gold is at $130.68.
Trend analysis indicates that Royal Gold, Inc.'s CCI indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Royal Gold bounced $1.86 away from Fibonacci support at $120.08. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $120.82, a low enough level to, generally, suggest that Royal Gold is trading below its fair value. Royal Gold chart analysis: a persuasive break of this target could lead to higher losses.
For the time being, Royal Gold remains flat without a clear direction.
Despite posting gains on Friday, Twenty-First Century Fox slid below its 3 day Simple Moving Average at $33.83 during the last session — an early indicator that a negative trend could be emerging. Twenty-First Century Fox's upper Bollinger Band® is at $34.79. Twenty-First Century Fox's recent run now faces a major challenge as concentrated supply is likely found at $34.49 with price action currently 27 cents away.
Technical analysis of Twenty-First Century Fox price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Western Digital made an initial foray below its 21 day Simple Moving Average around $42.4. On the other hand, note that a convincing break of this target could pave the way for deeper losses. Western Digital's lower Bollinger Band® is now at $40.94.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Western Digital.
Upcoming fundamentals: United States Existing Home Sales (Jan) is expected tomorrow at 15:00 UTC.