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In pursuance of a brief consolidation near the 180 support level, buyers stepped in decisively, absorbing selling pressure and reinforcing the base. This renewed demand has allowed Anglo Asian Mining Plc (LSE:AAZ) to sustain steady upward momentum, signaling potential continuation toward higher resistance levels in the near-term trading sessions.
This consistent demand has enabled the stock operations to maintain steady upward momentum, attracting additional investor interest, suggesting a higher probability of continued gains and the potential to challenge subsequent resistance levels in the upcoming trading sessions.
Resistance Levels: 220, 225, 230
Support Levels: 180, 170, 160
Can AAZ Sustain Its Upward Momentum While The 15-Day and 50-Day EMAs Maintain Positive Postures?
With both the smaller and the bigger EMAs trending upward, AAZ Plc stock firmly demonstrates a strong bullish posture. If buying pressure continues near the 180 support, the stock could extend its momentum, potentially testing higher resistance levels in the coming trading sessions.
The Stochastic Oscillators have positioned southbound into variant oversold regions, clearly denoting that purchasers are in an overwhelmingly strong and decisive manner. The trend lines of the 15-day EMA indicator have been consistently positioned overly above the 50-day EMA indicator, maintaining close distances and signaling sustained upward momentum in the market.
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