Mariana Resources (LSE:MARL) which broke northward
in a significant mode at the beginning of November 2013, is currently being
pulled back. This is a good opportunity for the bulls to go long at cheaper
prices.
Here, the ADX period 14 is sloping above the level
50 (signifying a very strong bias), while the DM+ is above the DM-, which means
the bulls’ supremacy. The MACD (default parameters) histogram and signal lines
are above the zero line. The signal lines are even far above it. This means
that while we can count on a possible reversal, it would be temporary in
nature, as a result of the Bullish Confirmation Pattern on the chart. The bear
may not want to risk selling short in this kind of market. Can the carpenter
eat nails?
Conclusion: The
price on Marianna Resources is projected to go to the supply zone of 10.00 this
year or next year. It is your action that would show if you can make money in
this market. You may want to capitalize on the bears’ frailty by going along
the bulls’ stamina. It is now crucial for you to join the bulls in getting rid
of the bearish threats, since this plays a factor in your probability of making
gains.
This forecast is ended with the quote below:
“Mistakes basically are the best thing that
can happen to you – especially at the beginning of a trader’s career where you
trade a small account.” – Marko Graenitz
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Eye-opening trading lessons: Lessons from Expert Traders
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