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!
The share currently trades at 1080. A sell-off to 872 means 19% drop! This the downside target as per the measured height method. Take note of the large head and shoulders breakdown pattern.
The daily RSI is close to but not yet oversold. The weekly RSI shows a nice rounding top pattern and is sufficiently far away from the oversold region.
We also saw a...
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
any thoughts?
it has been in my watching for almost 5 months ...
it has broken descending trend line...
but ive not enter to it because i dont see passing of a major area and in the chart im looking for breakout of colored area and entry to buy position...
i believe s/r zone will be broken so watch it very nice...
good luck
The daily chart shows bearish price RSI divergence followed by a breach of the short-term rising trend line.
The doors have been opened for a drop to 100-DMA levels, which is seen rising to 1020 over the next few days.
Bearish invalidation is seen only if prices retake rising trend line, while fresh buying is seen only in case of a daily close above the recent...
