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Tuesday, August 12, 2014

President Energy: Price is ready to break out to the downside

President Energy shares (LSE:PPC) may lose more of their value when the price breaks out and go further south. The market has been very choppy and volatile lately, plus the logical thing to do right now is to seek short trades.

Since last month, July 2014, the price has been coming down, going through very turbulent waters as the bulls and the bears continue to struggle. The bears have upper hands. In the chart, short orders would make more sense as soon as the price breaks below the lower Trendline. The RSI period 14 is still below the level 50, supporting a possible bearish run.

This is the type of market in which sellers make money. Many people think that money is being lost when the market goes downwards, but this is not true. No money is lost in bear markets; it just changes hands.

This forecast is ended by the quote below:

“Study the successful people in your field so your own views on the markets will be verified and validated.” – Louise Bedford

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals


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