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Wednesday, June 4, 2014

African Potash Would Bring Losses to the Bears

African Potash shares (LSE:AFPO) were trending downwards in a slow and steady manner before further downwards trend was rejected in May 2014. Since then, the price has assumed a new bullish bias.  

The new bullish bas is sustainable because the price is now far above the Trendlines (an area from which it broke out). In addition, the RSI period 14 is above the level 60 – confirming a strong uptrend. While there could be some transient pullbacks in the market, it is expected to go further with the possibility of reaching the supply zone at 5.0 in the long run.

Veteran traders know that trading in the past was much easier than it is today. While today’s market is turbulent and choppy alternatively, gains can still be harnessed.

This forecast is ended with the quote below:

“I am interviewing people who have never traded — both young and near retirement.  Their beliefs about the markets, money, and themselves show why they have never traded… I'm… interviewing several active traders who are not very successful. Again, their beliefs show why they have never been successful. Why? Because they have many non-useful beliefs about trading and the markets.” – Dr. Van K. Tharp (Source: Vantharp.com)

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals



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