Wednesday, December 30, 2015

ZincOx Resources Collapses!

ZincOx shares (LSE:ZOX) collapsed in November 2015 and consolidate in December. The price is still flat but when momentum returns to the market, it would most probably be in favor of the bearish trend.

In the chart, the ADX period 14 is at the level 40, showing that there is a strong bias on the market. The DM+ is below the DM-, meaning that the bears have upper hands. Although the MACD (default parameters), has its signal lines below the zero line, its histogram is above the zero line. This shows mixed signals, but the histogram is expected to drop below the zero line again, resulting in a Bearish Confirmation Pattern in the chart.

Any rallies on ZincOx should be taken as short-selling opportunities because the price is expected to collapse further.

One needs courage to endure while trading, because not all position will end up being profitable. An initial order might end up in a negative zone, plus the second one; though the third one might end up in a positive zone. It favors you to go in the line of the least resistance, which may hold out longer than anyone might imagine.

This forecast is ended by the quote below:

“I should enjoy my losses because I have to take them to make money” – Michael White

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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1 comment:

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