In the short term, prices are likely to meet with resistance at 21 cents, a level that coincides with the flattish 200-day moving average. In addition, the 21-day moving ave rage has hit the 80 mark, which represents an overbought high.
A temporary pull-back is likely. If the up-momentum is to be maintained, any correction should be mild, with prices moving sideways. In this event, support needs to be kept tight, at 20 cents. A break above 21 cents indicates a target of 27 cents, although prices have traded at much higher levels.
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