Anglo American Worth a Trade

8 ต.ค. 2023

Anglo American has closed above the green line and the 10 week moving average, price is now seeking a cycle low defined by the blue upslopping line. Price going below this line signifies a daily cycle low. The challenge is that the line is rather flat so we must look out for price going lower than R471.64, this would reset the weekly low. A close above the pink downward slopping line means we leave behind a cycle low, if we do this without breaching R471.64 we can expect a powerful move upwards of at least 10%. Since we are anticipating a recession, we must be alert to the weekly cycle failing early.

9 ธ.ค. 2023

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