Kefi Gold And Copper Price: KEFI Averages 0.9, Tending a Correction

PUBLISHED: 20 May 2024 @ 20:31 | Comments (0) | More info about Azeez Mustapha

It has been over a couple of sessions showcasing that the Kefi Gold And Copper Plc (LSE:KEFI), presently averages 0.9 area of resistance as it did toward the end of February, tending a correction.

The likelihood index to see steady additional increases over the resistance of 0.9 seems considerably lower than seeing it fall down soon from or just below that trading line, as the current technical scenario prognosis makes clear. To put it another way, investors should take note of the current situation as a time to cash out until a different, lower trade formation is made below the moving averages.

Resistance Levels: 0.90, 1, 1.10
Support Levels: 0.65, 0.55, 0.45

Should buyers play alongside subsequent bullish candlesticks in the KEFI Plc stock as the price trades around 0.832?
It has been noticed that the shares company is reaching a peak trading zone that is supported by getting decent entries by the indicators, given that price averages 0.9, tending a correction.

Since the 50-day EMA trend line has been intercepted by the 15-day EMA trend line to the north, the point of 0.7 is crucial to maintaining the correct form of the retracement motion. The overbought area has been reached by the stochastic oscillators. It seems sense that at this point, buyers should use caution while placing new longing orders in the direction of the 0.9 resistance level.

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