Anglogold on Verge of Breakout

Anglogold is in a falling wedge and we see price ready to breakout to the upside in the process confirming a weekly low price at R299.07. If we close above the green resistance, we want price to remain above the pink support in a move higher. This will guarantee a cycle where we will break that support onto a daily cycle low later in October ensuring we have a low probability of a failed cycle (i.e. lower than R299.07, which is also the stop-loss).

It is critical that we do not go lower than 23 February price, the previous weekly low, if we do then price will be in yearly decline.