Tower Resources shares (LSE:TRP) are a very weak
market – a bad market for the bulls. Nevertheless, it is a good market for the
bears, who are currently smiling to their banks. It would be a bad decision to
go long on this kind of market. Some people know the decisions they want to
make are bad, yet they go on to implement them.
The price has broken below the resistance level at
3.000, going further downwards. Meanwhile, the RSI period 14 is below the level
50. This is an indication of a bearish signal, and the price may reach the
support level at 1.000. The current bullish candle is merely a noise.
You can benefit from this price action by going
short; keeping your risk under control. You cannot enjoy higher returns while
you remain conservative or aloof; neither can you make huge gains without
increasing your risk.
This forecast is ended with the quote below:
“When I
first started trading, most of the time I felt alone, confused, and completely
bewildered. It took me over 3 years just to break even, and a full decade to
become consistent… No financial situation is permanent, unless you decide it
is.” – Louise Bedford
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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