Tuesday, December 9, 2014

Metal Tiger: Price Going Towards the Resistance Level at 2.500

Metal Tiger shares (LSE:MTR) are going up and they may reach the resistance level at 2.500. Price traded lower in the months of October and November 2014, but it has skyrocketed in this month. One great trader has said that his view on the shares is bullish. When a great trader says something, the market tends to listen.

In the chart, it can be seen that price broke upwards above the upper Trendline, moving upwards seriously. At the same time, the RSI period 14 has crossed the level 50 to the upside. Therefore the logical thing to do here is to go long, for price may reach the aforementioned resistance level (2.500). Once the target has been attained, the position can be smoothed. Smoothing is the end of a position.

The way huge gains come to traders is the same. Profitable traders use fundamentals to project the near-term market direction. This enables them to open trades when a new bias is still young, thereby maximizing their profits.

This forecast is ended by the quote below:

“If you learn and think things the same way everyone else does, you have no competitive advantage. If you learn to think different, you can really own a big edge in any competitive environment.” – Sam Seiden

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Learn from the Generals of the Markets: Market Generals

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