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Wednesday, August 12, 2020

Anglo Asian Mining Plc price: AAZ generates a bearish signal

 Anglo Asian Mining shares (LSE:AAZ) have already generated a bearish signal and things are expected to fall further from now going forwards. Price dipped from the beginning of this year till March 2020, and then it went upwards again, going northwards till August, when it reached the overbought area and began to fall.

 

While the ADX period 14 is at level 20, showing the momentum in the market is not much, the DM- has already crossed the DM+ to the upside. That is a bullish signal.  The MACD default parameters, has already had its histogram appear below the zero line. Its signal lines are pointing downwards and they are expected to cross the zero line to the downside.  Once that condition is fulfilled, the current bearish signal would be 100% confirmed (Bearish Confirmation Pattern).

 

AAZ made some effort to go further upwards in early August, but bears rejected the move. Price has thus started going downwards, and that is just the beginning.

 

 

Azeez Mustapha

 

Market Analyst, Trading Signals Provider and Coach

 

Trading realities: Trading realities 

 

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

 

Buy and sell Perfect Money/Payeer/BTC/AdvCash; get funded quickly: www.ituglobalfx.com.ng

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