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Oversold and is showing signs of a new uptrend. Also within a strong channel.
Hold till resistance level/overbought RSI
Place stop loss at 1320
Risk/Reward ratio: 4.3
We may see a test of the highs, but the most recent value are is my first target.
One we get there look at the candles for more clues, but for now we move higher!
I think we could see more downside for Anglo American, 2016 trend line break early March, now have the potential for Head & Shoulders neckline break and a 123 high break into lower low. My target from the breaks is 865
Not sure whether ABDCE wave will action or just a simple ABC corrective before wave 5 commencement.
Have 1160 area in sight for next leg up
looking for a trend continuation