Kinross Gold Surges 5% To $23.49 As Technicals Signal Bullish Momentum

Candlestick Theory
Kinross Gold's recent price action reveals significant patterns. The September 19 session formed a robust bullish candle closing near $23.49 after testing support at $22.40 (September 18 low), confirming this level as strong short-term support. Prior to this, a hammer pattern emerged on September 18 (open $22.26, low $21.94), signaling rejection of lower prices. Resistance is evident near $23.65 (September 12 high), which capped advances multiple times in late August and early September. The breakout above $22.82 (September 17 high) now targets the $23.65 resistance zone.
Moving Average Theory
The 50-day, 100-day, and 200-day moving averages depict a strengthening bullish structure. Current price ($23.49) trades firmly above all three averages (50-DMA ~$21.80, 100-DMA ~$19.90, 200-DMA ~$17.30). Crucially, the 50-DMA recently crossed above the 100-DMA in mid-August, confirming a bullish medium-term trend. The ascending 200-DMA slope since January 2025 further validates the long-term uptrend. This multi-timeframe alignment signals sustained upward momentum.
MACD & KDJ Indicators
MACD (12,26,9) shows a bullish crossover with histogram bars expanding positively, indicating accelerating upward momentum. Meanwhile, KDJ displays potential overbought conditions: The %K (86) and %D (79) curve above 80, though still rising. Notably, a bearish divergence occurred in late July 2025 when price made higher highs while KDJ registered lower highs, preceding an August pullback. While MACD supports continued strength, KDJ’s overbought reading warrants monitoring for near-term exhaustion.
Bollinger Bands
Price rebounded sharply from the lower Bollinger Band ($21.40) on September 4, surging to test the upper band ($23.40) by September 19. Band width expanded by 15% during this rally, reflecting increasing volatility. Current price near the upper band may face resistance, but the absence of contraction suggests continued momentum. A sustained close above the upper band would signal exceptional strength, while retreating toward the middle band ($22.10) could offer a consolidation opportunity.
Volume-Price Relationship
The September 19 rally recorded 29.9M shares traded – notably higher than the 20-day average (17.5M) – confirming bullish conviction. Earlier advances in early August and June also featured volume spikes (30M+), validating breakout sustainability. Conversely, pullbacks like September 16 saw volume decline (-24% vs. prior day), suggesting limited selling pressure. The volume profile reinforces key support at $21.40-$21.50 (high-volume node in August).
Relative Strength Index (RSI)
The 14-day RSI sits at 68, nearing overbought territory (>70) but not yet extreme. Similar RSI levels in late July preceded a brief consolidation before the uptrend resumed. Historically, RSI >75 triggered reversals only during extreme rallies (e.g., April 2025). Current momentum may sustain slightly overbought conditions, but traders should watch for RSI divergence against new price highs.
Fibonacci Retracement
Applying Fib levels between the June 2025 swing low ($14.87) and September 2025 high ($23.65) reveals critical retracement zones. The 38.2% level at $20.45 aligns with the August consolidation low, while the 23.6% level at $21.75 marked the September reversal point. Extensions target $25.20 (127.2%) and $26.80 (161.8%). These levels offer logical profit-taking zones and potential resistance.
Confluence & Divergence
Strong confluence exists at $22.40-$22.50, where the 50-DMA, swing low support, and volume profile converge. This zone defended prices twice in September, making it critical support. Bullish consensus emerges from MACD momentum, volume-backed breakouts, and moving average alignment. However, KDJ’s overbought signal diverges mildly from MACD’s strength. A break above $23.65 with volume would neutralize this divergence and target Fibonacci extension levels near $25.20. Downside risk appears limited while price holds $22.40.