Churchill
Mining stock (LSE:CHL) has shot skywards significantly. Within the last several
months, the price simply moved sideways, creating a strong base which might
even prevent serious bearish plunges.
This
is a type of market that benefits buyers. The bullish journey started in May
2015, and it ran till the end of that month. In this month, there has been an
accelerated movement to the upside; as if a bullet was shot in the sky. While
there can be occasional southward corrections, the price action currently
points to further bullish movement.
The
price is above the EMA 21 and the Williams’ % Range period 20 is not far from
the overbought territory. Sellers, beware!
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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