Kumba moving down after a strong upward move

After a very successful long position (link attached below), KIO has bounced off of the strong resistance level at around 67000 and seems to be on the way down. This is being confirmed by our momentum indicators, the stochastic, MACD and potentially the EMA's with today's move. If it confirms, potentially, we could go down to around 58000 - 59000 area.
ALSIjsekumbasouthafricaSupport and ResistanceTrend AnalysisZAR

Trade directly from TradingView through Velocity Trade. Get started here: suretrading.tradedesk.co/TradingView

For more info about our training and mentorship visit suretrading.co.za
Also on:

Related publications

Disclaimer