Large H&S since May 2022 formed with the coal mining company.
It broke down in January and since then has been sliding on a gradual downtrend.
Other indicators confirmed downside to come including:
200 >21> 7 - Bearish (Red)
RSI <50 Red
The target still remains to be R88.70 and it looks like coal is still in very murky water.
Large H&S sine May 2022
It broke down and has been on a trajectory path downside.
Indicators are still bearish
200 >21> 7 - Bearish (Red)
RSI <50 Red
Target R88.70
SMC: We know the overall trend is down. There has been a BOS (Break of Structure) twice.
And now with the big candle there is a testing zone to see if there is buying or demand.
Once we get a break...
Thungela has formed a Large H&S cine May 2022
The price has broken below the neckline and seems to be dropping further.
200 >21> 7 - Bearish (Red)
RSI <50 Red and has formed a Bearish divergence.
However, the price is coming down with the RSI which confirms a bear market.
Target R88.70
General info.
Thungela Resources Ltd (formed in 2020 in JHB as a spin off...
