- As per the previous post (link below) EXXARO consolidated and allowed the 20ema to catch up before breaking the flag and reaching a swing high of R240
- The chart has since printed what seems to be an ominous Head and Shoulders pattern ....
- The neckline sits around the previous break level R191 (Range R191-R220)
- The 50 day has also started to slope downwards so i would not be surprised to see the level tested and perhaps visit the 200day at around R186
- Above R225 negates the head and shoulders
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
If you would like me to have a look at any chart, please send me a message and i will post my thoughts, Happy Trading!
- The chart has since printed what seems to be an ominous Head and Shoulders pattern ....
- The neckline sits around the previous break level R191 (Range R191-R220)
- The 50 day has also started to slope downwards so i would not be surprised to see the level tested and perhaps visit the 200day at around R186
- Above R225 negates the head and shoulders
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
If you would like me to have a look at any chart, please send me a message and i will post my thoughts, Happy Trading!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.