Eurasian Mining Plc price: EUA becomes weak, and will be weaker

Eurasian Mining Plc shares (LSE:EUA) have become weak and they are supposed to become weaker and weaker, owing to the current price action and technical indicators formation in the chart.

 

From July 2020 to August 2020, price made commendable effort to rally, but further rally has been rejected and things have nosedived. From August till now, the market has been coming down and all the gains made in August have been erased.

 

Price is currently below the lower Trendline and the RSI period 14 is in the oversold region, meaning the market is very weak. While there could be bullish attempts in the market, the attempts would not be sustainable as price is expected to go further downwards.

 

 EUA could reach the support levels at 15.00, 10.00 and 5.00 before the end of the year 2020.

 

 

Azeez Mustapha

 

Market Analyst, Trading Signals Provider and Coach

 

Trading realities: Trading realities 

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