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Wednesday, October 7, 2015

Oxus Gold Is Now Rated a BUY

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

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