Fresnillo – Double top on daily chart

Fresnillo, the precious metals miner, is the top loser in the FTSE100 index; down 5.42% at the time of writing.

PatternDouble top on daily with neckline at 1738

Sliding daily RSI and money flow index coupled with a sharp drop today suggests prices are likely to test the neckline support at 1738 levels.

A day end close below neckline would signal trend reversal on larger scheme of things and open doors for a drop to 1400 (100-DMA) levels.


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