Kumba moving down after a strong upward move pour JSE:KIO par RossLarter

trendanalysis supportandresistance jse alsi zar southafrica kumba

After a very successful long position (link attached below),

KIO has bounced off of the strong resistance level at around 67000 and seems to be on the way down. This is being confirmed by our momentum indicators, the stochastic, MACD and potentially the EMA's with today's move. If it confirms, potentially, we could go down to around 58000 - 59000 area.

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