Wednesday, September 11, 2013

Look! What’s Happening on Anglo Asian?

 What is happening on Anglo Asian Mining stock (LSE:AAZ)? The market has long been showing deadly struggle between bulls and bears; plus the bulls are currently gaining upper hands. Wouldn’t it look better if the bears accept reality and stop struggling? A blind man who is keeping malice with the housekeeper would suffer by wandering behind the walls, without assistance.

Here, the price has broken the EMA 21 upwards and would inevitable close above it, while possibly going further north. The Williams’ % Range period 20, which oscillates according to the ups and downs on the chart, is currently supporting the bulls’ victory. There is a good support level at 30.00.

Conclusion: The price on Anglo Asian would end up trending upwards. In spite of the turbulent conditions since the middle of this year, this market has been showing a tendency to keep up going north. Although large pullbacks can be expected sometimes, the price would go further upwards. With this in mind, one can sail the ocean of this market successfully. Rookies tend to be carried away by unrealistic promises, but you can become a better trader without having to make too many errors.

This piece is ended with the quote below:

“Sometimes your worst experiences in life turn out to be the best in the end.” – Ralph Acampora

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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