Anglo Asian Mining shares (LSE:AAZ) have already generated a bearish signal and things are expected to fall further from now going forwards. Price dipped from the beginning of this year till March 2020, and then it went upwards again, going northwards till August, when it reached the overbought area and began to fall.
While the ADX period 14 is at
level 20, showing the momentum in the market is not much, the DM- has already
crossed the DM+ to the upside. That is a bullish signal. The MACD default parameters, has already had
its histogram appear below the zero line. Its signal lines are pointing downwards
and they are expected to cross the zero line to the downside. Once that condition is fulfilled, the current
bearish signal would be 100% confirmed (Bearish Confirmation Pattern).
AAZ made some effort to go
further upwards in early August, but bears rejected the move. Price has thus
started going downwards, and that is just the beginning.
Azeez Mustapha
Market Analyst, Trading Signals
Provider and Coach
Trading realities: Trading realities
Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha
Buy and sell Perfect
Money/Payeer/BTC/AdvCash; get funded quickly: www.ituglobalfx.com.ng
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