KUMBA IRON ORE LTDLargo
$JSEKIO - Kumba Iron Ore: Speculative Buy Above 40800
The bigger picture structure for Kumba is quite complex so I will be looking at price action only from the 20 March 2023 low of 40800.
A recognizable price pattern is the three wave expanded flat for wave ((ii)).
If 40800 holds, wave ((iii)) can take price beyond 56000 giving a good risk:reward trade.
My conviction is not that high but trading is all about taking and managing risk.
A recognizable price pattern is the three wave expanded flat for wave ((ii)).
If 40800 holds, wave ((iii)) can take price beyond 56000 giving a good risk:reward trade.
My conviction is not that high but trading is all about taking and managing risk.
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