Hi ex –
IMO yes, given that the present level of the 50-day MA (orange) includes the 1st 30 days of trading at av. SP levels of double the present., so the 200-day MA (blue) will continue to trend down but not at the same rate of descent as the 50-day MA.
As Red’s chart also depicts an ascending triangle, provided that formation holds & the SP does not break down below ~1.60p (2.7c Oz) then topping-up @ below Red’s roof @ 1.93p (3.3c) could IMO prove to be a positive move, but traders should also take into a/c that no breakout above that 1.93p (3.3c) – up to “chart” resistance @ ~2.7p (4.6c) in the next week or so, might also destroy the ascending triangle formation. Rgds Guata.
Hi ex – IMO yes, given that the present level of the 50-day MA...
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