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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