Tuesday, September 29, 2015

Mosman Oil and Gas to Go Up Again

Mosman Oil and Gas shares (LSE:MSMN) are an excellent “buy” as a result of the present conditions in the market. The price moved south slowly and gradually in early part of this year and consolidated within the months of July and August 2015.

The price broke upwards in September, moving seriously upwards. The price went above the resistance level at 8.00 briefly and then got corrected below it. The price is generally above the 2 Trendlines, and the RSI period 14 is at the level 50, which indicates some strength in the market.

Right now, Mosman Oil and Gas is making bullish attempts, which have a great chance of succeeding. The price could reach the resistance level at 10.00 before the end of this year. This is a noisy (trending) market, which is an ideal one in which to trade.

I prefer a noisy market to a quiet one. If a market has moved very well recently, it might continue doing so in future. And for me to harness gains, I need movement, which is mandatory. Though I am talking about future developments, since there is no certainty that a market that has moved very well in the past would continue doing so within the next several days or weeks, but the possibility of doing this is higher in a noisy market than a quiet one.  

This forecast is ended by the quote below:

“A trade is just a trade and a single trade will neither make nor break me…. But in general, day to day, I never give losses or profi ts too much thought.” – Nick Radge

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

What Super Traders Don’t Want You To Know: Super Traders

1 comment:

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