Serabi Gold Price: SRB Solidifies Bearishly, Attempting a Base

PUBLISHED: Jun 20 2023 @ 23:20 | Comments (0) | More info about Azeez Mustapha

The presence of bears in the Serabi Gold Plc stock (LSE:SRB) solidifies bearishly, attempting a base formation in its trade perception.

Price has briefly shifted lower from its usual support line of 28 to now trade around the 26 lines with the psychological thought of recouping an upward swinging order. To build gravitational forces strong enough to break through overhead hurdles from the resistance lines of the 29, buyers must wait for a clear indication of a trading condition.

Resistance Levels: 29, 31, 33
Support Levels: 24, 22, 20

Can the SRB Plc stock market consolidate downside beyond the 26 as placed under the EMA trend lines?
There can be more drops in an extension to be made from 26 to between 24 and 22 in the long run if the SRB Plc shareholding bulls fail to add power to the position from the current trading point below the trend lines of the EMAs.

The 15-day EMA indicator bends southward underneath the 50-day EMA indicator. The Stochastic Oscillators are in the oversold region, moving in a consolidation style to denote the situation toward getting a reliable buy signal. Therefore, long-position takers may need to exercise a little more patience. Nonetheless, stakeholders might start their stockpiling processes without much delay ahead of the projected increasing cycle.

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