9512 (RIYADH CEMENT CO.) ANALYSIS
TADAWUL:9512 is in a really interesting area right now .
In fact there is a BEARISH MARKET SENTIMENT at the moment , but the price needs to close below the red box (35.7 - 35.2 area) for a BEARISH CONFIRMATION .Actually ,If it succeeds to close below the red box (35.7 - 35.2) area ,It is very likely to continue the bearish evolution towards the 33-33.5 area .
On the contrary ,If price doesn't close below the red box , and later succeeds to close above the red line (36,5) then it is likely to remain stuck in the (36.5 - 37.8 )area ( between the red line and green line ) .At that time It would be just as interesting to watch the market ,and wait for a potential BULLISH CONFIRMATION : In fact , if price succeeds to close above the green line (37,8) ,it is very likely to reach the ( 40 .5 - 41 )area .
In fact there is a BEARISH MARKET SENTIMENT at the moment , but the price needs to close below the red box (35.7 - 35.2 area) for a BEARISH CONFIRMATION .Actually ,If it succeeds to close below the red box (35.7 - 35.2) area ,It is very likely to continue the bearish evolution towards the 33-33.5 area .
On the contrary ,If price doesn't close below the red box , and later succeeds to close above the red line (36,5) then it is likely to remain stuck in the (36.5 - 37.8 )area ( between the red line and green line ) .At that time It would be just as interesting to watch the market ,and wait for a potential BULLISH CONFIRMATION : In fact , if price succeeds to close above the green line (37,8) ,it is very likely to reach the ( 40 .5 - 41 )area .
Penafian
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