Emed Mining shares (LSE:EMED) have assumed a
northward journey in the context of a downtrend and it would require further
northward attempt before the downtrend can become bullish.
4
EMAs are used for the analysis and they are EMAs 10, 20, 50 and 200. The color
that stands for each EMA is shown at the top left part of the chart. The price
is now above the EMA 10, 20, and 50, as they are sloping upwards, but there
must be a Golden Cross (a scenario in which the price crosses the EMA 200 to
the upside), before there can be a confirmation of a bullish bias.
Right
now, what we see on Emed Mining is a rally in the context of a downtrend, which
can give some bears opportunities to sell short when there is a rally in the
context of a downtrend. However, when the EMA 200 is crossed to the upside, all
the indicators in the chart would align themselves in support of the bulls.
This forecast is ended by the quote below:
“I'm not suggesting that an optimistic attitude by itself
is going to turn you into a super-trader. But it is a prerequisite. You have to
cultivate a can-do attitude in this business. You have to be willing to sift
through the hype and the get-rich-quick trading schemes until you find
something that works for you.” – Joe Ross
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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