Is Kodal Minerals about to form a Golden Cross?

Kodal Minerals shares (LSE:KOD) are a rough and choppy market, which has been going downwards gradually until recently.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart.

The EMAs 10, 20 and 50 are sloping downwards (though the EMA 200 was not doing that much). Price has jumped up above the EMA 200, but it is yet to close above it.

Could this result in a Golden Cross?

Should price close above the EMA 200, it would herald another phase of bullish journey. Should price close below the EMA 200, then Kodal Minerals would resume its extant bearish journey.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Traders’ Mindset: Traders' Mindset

  

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

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