MTN Turns Bearish Early Into a Cycle

MTN has found itself in a tricky position, the cycle failed and price appears to be forming a rising wedge (bearish) with resistance encompassing the pink line, 30 day moving average and 200 day moving average. A convergence of resistance is hard to overcome, so we can expect MTN to be rejected if it gets to that point, since the cycle is already failed price will have to move lower.

Komen:

As expected price was rejected at the convergence of resistance, now negotiating the exit from the rising wedge with price favouring a downward move lower than 20 March.

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