MAGN had a nice run since Oct22 advancing +157% since the bottom to recent Sep's top. Is the rally over, or do we have at least one more advance potential? My technical thesis supports the latter. I don't have high confidence in my ElliotWave count on this chart, due to price extensions beyond classical fibonacci levels, but from pure price and volume...
The price of MMK futures approached support in the 69100-70700 zone. I'm expecting a rebound.
View On USD/MMK (3 FEB 2021) Due to the current uncertainties in the country, we shall be witnessing "the capital flight to safety" event. MMK shall devalue pretty quickly as the process drags on. It should "easily" go to 1440 region soon and 1500 is next. Whatever method you use if you do not follow the proper rule of risk management, it will have...
View On USD/MMK (18 MARCH 2020) Myanmar Kyat (MMK) is depreciation against the Greenback (USD) for years now but recently the trend started to reverse due to massive FDI (Foreign Direct Investment) fund inflow to the country. Unfortunately, the reversing trend gets stalled as the USD climbed back due to the outbreak of COVID-19 USD/MMK can cruise toward the...