Columbus
Energy shares (LSE:CERP) have become a clean bullish market, following the
bullish run which started last month. The bullish run is expected to continue
for the reason below.
The market
consolidated in June, July and August; 2017 only to break out in September.
That is the trend that remains in place till now.
The ADX
period 14 is at the level 60, showing a strong momentum in the market. The DM+
is far above the DM-, meaning that bulls are currently the winners. The MACD
default parameters has its signal lines and histogram above the zero line. This
is a Bullish Confirmation Pattern in the market, and further upwards movement
is cleanly possible.
Columbus
Energy may thus reach the resistance levels at 8.500, 9.000 and 9.500 within
the next several weeks.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Traders’ Mindset: Traders. Mindset
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