Figure 1: MEG Price Chart
Figure 2: Technical Indicators
MEG is currently near the Fibonnaci resistance around 1.62. Its relationship between short, mid, and long term view is neutral. The upward trend for MEG is still weak. Momentum upward has somewhat slowdown a bit. RSI is bullish at 52. Its neither overbought nor oversold with the RSI, but when it comes to %R has triggered the sell signal for MEG. MACD is still bearish and yet to confirm for a sell signal. MEG is starting to show some consolidation signs already mainly from the fact that strong foreign selling has occurred last Friday.
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