A Golden
Cross has just occurred on Caspian Sunrise stock (LSE:CASP), and that could be
the beginning of a long-term bullish journey as price goes further upwards.
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.
The market
had been trending downwards within the last several months, until late
September 2017, when a significant bullish momentum started. Price has now gone
above the EMA 200- causing a Golden Cross – while other EMAs are sloping
upwards.
Other EMAs
would also soon cross the EMA 200 to the upside, and this would make Caspian
Sunrise assume a long-term bullish journey.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders' Mindset
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