{australien_flagge}As was already foreshadowed in our May chart check, the violet downtrend line in the chart of American West Metals (ASX: AW1; FRA: R84) has now been significantly overcome and even the blue uptrend channel was left upwards with high turnover. On the upside, the mark of 0.10 Australian Dollars and the 200-day line running in this area remain in view. After that, the zone between 0.12 and 0.13 AUD (grey lines, which have acted as support or resistance several times since last summer) could be targeted.
{australien_flagge}As was already foreshadowed in our May chart check, the violet downtrend line in the chart of American West Metals (ASX: AW1; FRA: R84) has now been significantly overcome and even the blue uptrend channel was left upwards with high turnover. On the upside, the mark of 0.10 Australian Dollars and the 200-day line running in this area remain in view. After that, the zone between 0.12 and 0.13 AUD (grey lines, which have acted as support or resistance several times since last summer) could be targeted.
The 100-day line continues to fall, which is negative. In contrast, the 200-day line has fortunately ended its downward trend and has been moving sideways for a few days (purple diamond).
The MACD indicator recently generated a chart-technical buy signal (the blue line crosses the red line upwards) and the trend indicator was able to turn upwards again at the neutral 100, too, and thus remains positive. The Money Flow Index (turnover weighted relative strength RSI), due to the significant increase in combination with the high turnovers, is again approaching the 80 level, above which this indicator is considered overbought. The Overbought/ Oversold indicator was able to turn downwards twice at the 2.0 mark and thus narrowly avoided overbought status.
Source: Comdirect
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