Empyrean shares (LSE:EME) have been consolidating to
the downside since July. This follows the strong bullish rise that was
witnessed in June. Before that, the market was in a tight equilibrium phase.
The price is now almost below the EMA 21, while the
Williams’ % Range period 20 is in the oversold region. When price goes clearly
under the EMA 21, and the Williams’ % Range remains around the oversold region,
there would be a good “sell” signal and price would continue going southwards.
Once the condition in the preceding paragraph is
met, Empyrean would be expected to reach the demand levels at 8.00, 6.00 and
4.00 within the next several months.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
No comments:
Post a Comment