Urals Energy shares (LSE:UEN) have been making attempts
to go skywards, and they could even shoot upward eventually. The market was in
a downtrend for the past several months, before it consolidated a bit, and then
began to trend upwards. What happens when the market leaves the consolidation
phase? The subtle agreement between the bear and the bull would eventually lead
to amazement, later to aloofness, and later to desperation. Desperation would
lead to herd mentality, pushing the market further north. The resultant
momentum in the market also contributes to bullish trend.
The possibility of a northward bias occurred when
the price broke the EMA 21 to the upside and eventually closed above it. The
Williams’ % Range period 20 is also in support of the northward bias. That is
how possibility becomes an accomplishment. I know that there are astute market
players who are already making money from the kind of price action mentioned
here. Garnering gains from speculation is not the same as knowing why the gains
are garnered. Thus, there are victorious market players whose trading
methodologies cannot be comprehended.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Ground-breaking lessons from expert traders: Lessons from Expert Traders
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