African Minerals shares (LSE:AMI) have crashed –
dropping significantly for the most part of the year. The bearish bias is so
strong that anyone that goes long in this market would be sliced up.
In the chart, the ADX period 14 is above the level
50, showing a very powerful trend. The DM+ is below the DM-, meaning that the
sellers have upper hands as compared to the buyers. The MACD (default
parameters) has its signal lines below the zero line. This is a Bearish
Confirmation Pattern in the market and the upper hands of the sellers are
significant indeed. As long as the signal lines are below the zero line, it would
be irrational to take any bullish action.
The price is supposed to continue going further south,
reaching the accumulation territories at 16.00 and 15.00 successively.
This forecast is ended by the quote below:
“Winning
traders manage risk… Managing risk not
only protects your account balance, but it also helps you control your
emotions.” – Joe Ross
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
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