JSE:AGL Anglo American Approaching Oversold
Anglo American has been trading in a well-defined advancing channel (See the previous post following this advance below). Every time it has reached the oversold line there has been a spring type action and institutional buying indicated by volume increases. The difference with the previous occasions this occurred is that the volatility is greater and has occurred a shorter perioded of time after the previous event. So watch for a reaction from the oversold line on a lower timeframe but apply good risk management due to the volatility.
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