KNM At The 261.8% Fibonacci Level Expected To Be Upside

KNM Weekly Price Chart

KNM currently in downtrend mode with price closed in last session at RM0.535. Recently the volume is high at this fibonacci level started a few weeks ago which I think the price will reverse for the moment. RSI-14 weeks in oversold area and turning up. Or this will be base for the double bottom formation?