Lionsgold gets a bearish correction, to go upwards soon

Lionsgold shares (LSE:LION), which were caught in a tight base for most part of this year, have already started journeying upwards seriously.

The market started a serious bullish movement around the end of last month and the beginning of this month. The market is currently experiencing some correction in the context of an uptrend.

Price is above the EMA 21, and the Williams’ % Range period 20 is not too far from the overbought region. This means that price is expected to continue going upwards following the ongoing correction.

Therefore, Lionsgold, would test the distribution territories at 3.00, 4.00 (which have been previously tested) and 5.00. It may even go towards the distribution territories at 6.00 and 7.00 within the next several months.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Traders’ Mindset: http://www.advfnbooks.com/books/insights/index.html 

  

Source: Traders' Mindset

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