Tuesday, July 22, 2014

Petropavlovsk Shares Shall Crash Further to the Floor

Petropavlovsk Shares (LSE:POG) are a very weak market and it is expected to continue crashing to the floor. The next targets for the bears are located at the support levels of 32.00, 31.00 and 30.00.

In the chart, the price is trying to effect a weak rally, which is a normal thing in a strongly trending market. The price is currently trading below the EMA 21 and the Williams’ % Range is constantly in the oversold territory. The % Range may leave the territory temporarily, but it would still go back towards the oversold territory. The price has been crashing down so far in this year, and it would continue to crash towards the support levels mentioned in the introductory paragraph – the proverbial floor.  

This forecast is ended by the quote below:

“We all pay the price of learning how to trade, for me it took years. I learned from Dr. Alexander Elder’s work that the goal of all new traders should be to just survive at first. It is very good advice. Pro’s trade first not to lose big, and then to make money.” – Larry Tentarelli

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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