On Friday, Midas re-tests the major support at $0.97 and closed at $0.96 with LOW volume of 5.62 million shares traded.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Both RSI & MACD are bearish as MACD perform a “cross down” recently.
Important Resistance of Midas: $0.97
Immediate Support of Midas: $0.96
Currently prices are supported by 50/200 days MA at $0.96 and resisted by 20/100 days MA at $0.97.
From the charts, we could see that Midas is still trending in consolidation mode with the key resistance at $1.01 and key support at $0.925.
After the recent selling down, we expect that $0.96 support will at least hold the prices since technical/50/200 days MA is near that region.
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