Fortune Oil (LSE: FTO) shares
look great for those who have been looking for an opportunity to go long. Bulls
would merely need to enter at some great price levels, with professional
equanimity, as bears are battered ignominiously.
One the chart, 4 EMAs are used.
They are EMAs 10, 20, 50, and 200 (the color that stands for each EMA is shown
on the top left area of the chart above). A few months ago, the price was
essentially trading in a range, as shown by the EMAs. But since November 2012,
the price has been trending upwards gradually until it gapped up significantly on
December 17, 2012. After the gap-up, the price made a conspicuous upward surge.
Both the EMAs 10 and 20 have gone above the EMA 50, with the price above them.
This is a bullish signal. One realizes gains from an instrument that goes northward
as you open long positions. Whenever there is a pullback in the market, one
would not bother whether there is a southward correction. What matters now is
how you allocate your assets, including contingency plans.
This article is ended with the quote below:
“I would like to make decisions that
are as independent as possible of my personal well-being and mental state.” – Faik Giese
NB: You would be
exposed to world-class, cutting-edge, and top-notch trading experiences here: www.advfn.com
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Copyright (C) ADVFN PLC
For more articles, go to: http://www.advfn.com/newspaper/authors/azeez-mustapha
NB: If you want
to receive permanently free winning Forex trading signals, please send me an
email titled: “A Request for Free Trading Signals.”
Send the request to: saazalmu@yahoo.com
Open an account here: eng.fxclearing.ca/ib/915
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