There
is a high possibility that massive sell-offs soon may begin on San Leon Energy
shares (LSE:SLE), as indicated by the price action in the chart below. Chris
Tate says there is a time to be in the market and there is time not to be in
the market. Definitely for the bulls, this is not the time to be in this
market.
In
March 2015, the price made some attempt to go upwards but the upward attempt
was halted in April 2015. Since then, the price has moved southward in a slow
and consistent manner till now. The price has gone below the EMA 21 while the
Williams’ % Range period 20 has moved into the oversold region. This emphasizes
the weakness in the market, and as a result of this, the support level at 0.200
could still be attained.
The
unpredictability of the market cannot be removed, for it is an inherent
attribute. In reality, any speculator who would enjoy a long-term success would
find ways to master the unpredictability. The outlook on San Leon Energy is
bearish.
This forecast is ended by the quote below:
“Many
years of experience are ultimately one of the keys to trading success. And it
means that you need to stay the course for quite some time to be a good enough
trader. Perhaps this is one
reason why so few traders manage to survive the learning curve in trading.” – Dr. Brett N. Steenbarger
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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