- 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!
