Oxus Gold stock (LSE:OXS) is now rated a buy because of the
current bullish price action. The breakout that has been performed this month
can still be sustained in spite of the correction that is currently happening.
We cannot enter a market simply because of a strong volume.
There are other factors to be considered. Looking at the chart, we can see that the
price is above the EMA 21 and that the Williams’ % Range period 20 is not too
far from the overbought territory. This is a ‘buy’ signal.
The best trading style for this market is position trading.
Strong momentum may rise any moment. Therefore, do not forget that things can
develop in the opposite way. Just like the case of Oxus Gold, a seemingly
trendless market which appears safe for short-term traders can make a surprise
move.
The price may eventually reach the resistance levels at 6.00
and 7.00.
This forecast is ended by the quote below:
“Once a person accepts the idea that he/she is a loser,
it is extremely difficult to bring that person back to the idea that he can
win. Hope has been lost to the extent that they begin to look for a miracle way
to trade. Any confidence in themselves is gone.” – Andy Jordan
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders Don’t Want You To Know: Super Traders
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