EXXARO - Upward channel with a Bullish Harami

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EXXARO RESOURCES LTD (JSE:EXX)

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JSE:EXX EXXARO RESOURCES LTD

trendanalysis candlestick jse alsi zar southafrica exxaro

EXX has been trading in an upward channel since the big gap that was formed towards the end of April. It reached the bottom of the channel and formed a bullish harami pattern as it reached the support level. This candle pattern is a strong bottom reversal pattern and could be a sign of a reversal. This, coupled with the bottom of the channel could mean we could see a move towards the top of the channel again.

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