Closed Early

OZ Minerals Limited

January 21, 2020 - 1 month ago
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Action Sell
Term 30 Days
Called At $10.82
Target $9.50
Current Price $9.76
Performance 9.80%

Technical Outlook – The bulls have comfortably enjoyed the upward journey since establishing a near-term base at $8.50, back in early September 2019.

After holding to a bullish trek for three and a half months, unfortunately, to say, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), are showing signs of a potential downturn in the short-term.

Therefore, the bullish sentiment is now expected to stage a course correction to the bearish side.

Technically, it is expected that supply will overthrow this month’s demand and therefore expects a pullback to $9.50. Reassess from there.

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