Saturday, July 15, 2017

Amerisur Resources: No end to this current plunge

 Amerisur Resoruces shares (LSE:AMER) are currently a bear market. The bearish movement is very strong and it is expected to continue.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart.

All the 4 EMAs are sloping downwards, showing a grave weakness in the market. Price may bounce into the EMAs 10 or 20 temporarily, but the bearish bias would be valid as long as the EMA 200 is not breached to the upside. This is the only condition that can help invalidate the ongoing bearish bias in the market.

Amerisur Resources would continue to go lower and lower.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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