FTSE 250 stock (FTSE:MCX)
is a bull market. In fact, price has been going upwards since December 2016,
following the trendless and choppy market conditions that were witnessed in the
months before December 2016.
Price is currently above
the EMA 21, which has been sloping upwards since December, supporting a clean
bullish outlook on the market. The Williams’ % Range period 20 is in the
overbought region, showing that the bullish movement is strong.
There may be some transitory
pullbacks on FTSE 250 this year, but overall price movement would be bullish.
Price is expected to breach more and more resistance levels to the upside in
the long run.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Super Trading Strategies: Super Strategies
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