Fresnillo – Double top breakdown

Fresnillo is down 3.61% today and is a top FTSE100 loser.

The daily chart shows –

Double top breakdown
Money flow index approaching oversold region for the first time since November 2015
RSI is approaching oversold region for the first time since July 2015

Overall, prices appear on track to test 1500 levels (100-DMA), although a minor pull back once indicators hit oversold territory cannot be ruled out.

Bearish invalidation is seen only once prices see a daily close above neckline level of 1738 levels.


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