Kefi Gold And Copper Price: KEFI Is Rising, Following Erratic Corrections

PUBLISHED: May 09 2024 @ 16:15 | Comments (0) | More info about Azeez Mustapha

A significant downward gap movement emerged around March against the point of 0.60, as Kefi Gold And Copper Plc (LSE:KEFI) has regained momentum toward the trade line of 0.5 that is currently leading to a rising path averaging the resistance line of 0.7 as of the writing of this technical analysis.

The moving averages’ placement positions indicate that a northward-crossing mode between them is approaching a close stage. It’s also crucial to note that the 0.6 line will be the first pivotal point in the event that bears attempt to reverse their upward momentum and severely decimate the stock operations’ present upward trajectory. Our proposal, based on that trade reasoning technique, is that investors are about to produce a possible crash by taking advantage of an overbought position that the oscillators have similarly seen.

Resistance Levels: 0.75, 0.8, 0.85
Support Levels: 0.55, 0.5, 0.45

Given the near-average resistance level of 0.7 in the KEFI Plc stock market, is it prudent to place early shorting position orders?
The current slight-northward movement force seems not to be completing in a hurry, as the price has not seen a tangible reduction signal on the candlestick formation, given that the KEFI Plc shares trade is presently rising, following erratic corrections that took place underneath the point of 0.6 recently.

The trend line of the 15-day EMA is bending slightly in the direction of the 50-day EMA trend line from below. Given that the stochastic oscillators are currently situated in the overbought area, it is indicated that additional ups above the buy signal sides of the moving averages should be pursued with great caution.

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