Wednesday, August 6, 2014

Roxi Petroleum Goes Upwards… BUY

Roxi Petroleum shares (LSE:RXP) are very strong right now, having broken upwards and having resumed a bullish journey since last month. This bullish bias has also continued this month… and this is just the beginning.

In the chart, the ADX period 14 is above the level 50, going towards the level 60. This signifies a very strong movement in the market. The ADX DM+ is above the DM-, meaning that the bulls are currently victorious. This is a buy signal. The MACD (default parameters) has both its histogram and signal lines above the zero line; another buy signal confirmation. This is a Bullish Confirmation Pattern in the chart.

The price may go upwards within the next several months, reaching the supply levels at 19.00 and 20.00. By riding the trend, our portfolios enjoy gradual percentage increase. Be aware that success in trading comes gradually, being a marathon, not a sprint.

This forecast is ended by the quote below:

“One of my strengths is to be able to delay rewards. This is very positive for trading.” – Julian Komar

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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