Iofina May Fall Below the Supply Level at 20

Iofina shares (LSE:IOF) have been showing some propensity to go south. Recently, the market conditions have been choppy as the bulls and the bears continue to struggle for supremacy.

4 EMAs are used for the analysis (the color that stands for each EMA is shown at the top left part of the chart). The EMA 200 shows that the overall trend is bearish and this view cannot change unless the price crosses the EMA 200 to the upside.

Intraday and swing traders who go for short-term movements and price swings could find the market attractive. In addition, the current price action shows that the price may fall further southwards, falling below the supply level at 20.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha