In recent times, the situation on Tethys Petroleum (LSE:TPL) has been bullish. But right now, the stock is in an equilibrium mode. Then what is the next price direction? Would the bear’s threats materialize? Would the bull’s threats materialize? What is it that issues threats in the forest? Let it carry out its threats quickly, or else it should stop its threats.
On the chart, the price has been caught in some equilibrium phase, following a recent northward bias. In the month of March 2013, the price moved largely sideways. You can see the Trendlines on the chart: it is either the price breaches the upper Trendline, closes above it and trends further upwards, or breaches the lower Trendline, closes below it, and trends further downwards. The upward scenario is, however, much more likely, because the RSI period 14 is almost above the level 50 (currently), and the recent bias is bullish. What is happening right now is simply a pause in the bullish bias (trendless period), so the price is expected to resume journeying upwards. Sports that require great endurance and the art of speculation would always pose challenges. Imagine otherwise and blame yourself. It takes many years of experience to be free from irrational emotions that are usually felt when one’s positions are open. For the mature trader, the final result of an open position makes a little difference.
This article is ended with the quote below:
“No matter what system or if you invest even with a world class money manager you will at times go through long periods in which you do not make money.” – Andrew Abraham
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
For more articles, go to: http://www.advfn.com/newspaper/authors/azeez-mustapha
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