Annual Forecast for Premier African Minerals (2022)

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Premier African Minerals Limited shares (LSE:PREM) have not assumed a clear direction because the market is a kind of got stuck in an equilibrium phase. A breakout is going to happen very soon and that would be in favor of sellers, as the analysis below shows.

Price is currently stuck between the upper and lower Trendlines. The Relative Strength Index period 14, however, is moving downwards, now around level 40. The next downward move may take the RSI 14 to around the level 30, and by then, price could have moved below the lower Trendline as a bearish momentum increases.

The outlook for PREM is bearish for this year and the market could reach the support zones at 0.300, 0.250 and 0.200 respectively.

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