AngloGold Ashanti Shares Jump 3.67% on Bullish Technical Signals

AngloGold Ashanti (AU) shares advanced 3.67% in the most recent session, closing at $74.57 on substantial volume, signaling a decisive recovery from recent declines. Below is a comprehensive technical analysis integrating all specified frameworks:
Candlestick Theory
The price action features a notable Hammer pattern on October 9th ($70.91 low, $77.80 high) after a sharp sell-off, indicating rejection of lower prices. This was followed by a strong bullish candle on October 13th, confirming buyer conviction. Key resistance stands at the October 8th peak of $77.49, while support is established near $71.00, aligning with the October 9th low and psychological support.
Moving Average Theory
The long-term 200-day MA (approx. $46.20) and 100-day MA (approx. $57.50) exhibit a sustained upward slope, confirming the primary uptrend. The short-term 50-day MA (approx. $70.50) has flattened, reflecting recent consolidation. The current price trades above all three averages, suggesting bullish sentiment. However, the flattening 50-day MA indicates near-term equilibrium could persist before a resumption of the trend.
MACD & KDJ Indicators
MACD shows a bearish crossover in early October but its histogram is now reducing negative momentum, suggesting selling pressure may be exhausting. The daily KDJ features a recent bullish crossover below 50 (K-line crossing above D-line), implying short-term upside potential. Both oscillators align in signaling tentative recovery momentum, though divergence is absent.
Bollinger Bands
Bands contracted sharply after the October 9th volatility spike (15.6% daily range), indicating declining volatility. Price currently challenges the upper band ($74.80), typically signaling strength but nearing overbought territory in the short run. This compression often precedes directional breaks; a sustained close above the upper band may target $77.50 resistance.
Volume-Price Relationship
The Hammer reversal (October 9th) registered the highest volume (4.05M shares) in the dataset, validating the support rejection. Follow-up consolidation days saw volume contract, while the 3.67% advance on October 13th occurred on elevated volume (1.82M shares vs. prior sessions), confirming buyer participation. Notably, recent down days (e.g., October 10th) displayed lower volume than up days, suggesting limited selling conviction during pullbacks.
Relative Strength Index (RSI)
Current RSI (approx. 53.30) is neutral, recovering from a briefly oversold reading (35) after the October 9th decline. While RSI exited oversold territory ahead of the price rebound – providing a timely warning of downside exhaustion – it lacks overbought extremes (>70), leaving room for further upside before caution is warranted. RSI divergence is not observed relative to price.
Fibonacci Retracement
Applying Fib levels between the swing low ($43.88 on June 27, 2024) and recent high ($77.49 on October 8, 2025):
- 38.2% retracement ($67.29): Held as support during the October pullback ($71.00 low occurred above this).
- 23.6% retracement ($74.75): Current price challenges this level; a decisive break targets the prior high ($77.49).
- 50% & 61.8% levels ($60.68 & $63.39): Serve as major downside supports if breached.
Confluence & Outlook
Convergence is observed near the $71.00 support zone (validated by the Hammer, volume surge, RSI oversold bounce, and Fibonacci 38.2% proximity). The breach above the 23.6% Fib level ($74.75) aligns with bullish MA stacking, Bollinger Band breakout, and improving MACD/KDJ momentum. Traders should monitor volume sustainability above $74.75; decisive closes above this level could propel AU toward retesting $77.49. A failure to hold $74.75 may signal consolidation between $71–$77.50. Key sector risks (gold price volatility, USD fluctuations) necessitate ongoing fundamental awareness despite constructive technicals.