A very strong breakout is imminent on Sirius Petroleum
shares (LSE:SRSP) as a result of the ongoing protracted equilibrium phase. Price
made some bullish effort in February and March 2016, and began to move sideways
from March, till now.
The longer a sideways movement is, the longer the base and
the more imminent the breakout when it does occur. Such a breakout would be
very strong.
The price is not clearly above the EMA 21, but it would
essentially go above it, as the Williams’ % Range period 20 has been exploring
the area around the overbought territory. When a breakout does occur, it would
most probably be to the upside, when the Williams’ % Range is in the overbought
region and the price is above the EMA 21.
Sirius Petroleum would go upwards by at least, 20%, when it
does break out. A breakout to the downside would also cause a further loss.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
What Super Traders
Don’t Want You To Know: Super Traders
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
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