The PGMS are finally catching a relief bid and SSW has since got back over the down sloping 20ema.
While bulls hold this moving average and stay above swing lows, price looks set to go back towards the down sloping 200ema / resistance zone R36.50-R38.70
NB: There is a open gap around R39.50
A double bottom is a bullish reversal pattern that shows a trend change from a downtrend to an uptrend. It is made up of two low points that are roughly equal, with a moderate peak in-between, forming a “W” shape on the chart. The pattern is confirmed when the price breaks above the peak level.
While bulls hold this moving average and stay above swing lows, price looks set to go back towards the down sloping 200ema / resistance zone R36.50-R38.70
NB: There is a open gap around R39.50
A double bottom is a bullish reversal pattern that shows a trend change from a downtrend to an uptrend. It is made up of two low points that are roughly equal, with a moderate peak in-between, forming a “W” shape on the chart. The pattern is confirmed when the price breaks above the peak level.