Rio
Tinto shares (LSE:RIO) are extremely weak right now, and the weakness is
expected to continue. This is a wonderful opportunity for sellers, who can make
more money by continuing to sell the shares. Every week proffers attractive
trading opportunities; and you can take them.
In
the chart, it can be seen that the price is below the EMA 20 and the Williams’
% Range period 20 has gone towards the oversold territory. Long positions are
not recommended, for this is a bear market. Any rallies that can be experienced
would simply offer nice opportunities to short further.
No
long-term reversals can materialize right now because the bears have refused to
cooperate with the bulls. If “19,” refuses to cooperate with “1,” it would
never become “20.” The next target for the sellers are now at the support level
of 2000.
Those who are victorious in the markets have
certain things in common. These things were not in your nature, as good as they
are. You need to inculcate a winning mindset as well as a useful trading approach.
You surely need a positive outlook and a positive expectancy system.
This forecast is ended by the quote below:
“Anyone can
have short term success by being in the right place at the right time, but
consistency is what differentiates the pros from the amateurs, the timeless
legends from
the one hit
wonders.” - Mark
Minervini
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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