KUMBA - Short IDEA Short

KUMBA IRON ORE LTDJSE

Description

⋅ Nov 22, 2022 12:12 PM

Kumba reached its 200dma and has clear resistance at these levels... (61.8 retrace)

Looking for a pullback towards the R425 level initially.

Stoploss is a daily close above R502

Support and Resistance Fibonacci

Comments

Walter_Hill

⋅ Nov 23, 2022 8:14 AM

Agreed also considering the Strengthening Rand and the drop in Dalion Iron Ore prices.