President
energy stock (LSE:PPC) was a volatile market which was trending downwards about
a few months ago. But recently, things have gone bullish, plus the pullback that
is currently happening in the market is a good opportunity to go long. When
people are concerned about what is happening now, they would like to see recent
data instead of very old data.
The price has already gone above the EMA 21 and the
Williams’ % Range period 20 is moving into the overbought territory. By the
time the Williams’ % Range is in the overbought territory, bearish influence would
have been shaken off as subsequent pullbacks proffer new long chances.
There is a good chance than the price may eventually
reach the resistance levels at 40 and 45 in a foreseeable future, but that
statement does not come with guarantees. There is no way we can always be
correct with our predictions, and as a result of this, we need to put up with
the negativity that comes our way now and then.
This forecast is ended by the quote below:
“Complicated systems breed confusion; simplicity breeds
elegance.” – Justice Jack Sparrow
Litle
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
No comments:
Post a Comment