Tethys Petroleum: The Next Market Direction?

PUBLISHED: 02 Apr 2013 @ 04:03 | Comments (16) | More info about Azeez Mustapha

In recent times, the situation on Tethys Petroleum (LSE:TPL) has been bullish. But right now, the stock is in an equilibrium mode. Then what is the next price direction? Would the bear’s threats materialize? Would the bull’s threats materialize? What is it that issues threats in the forest? Let it carry out its threats quickly, or else it should stop its threats.

On the chart, the price has been caught in some equilibrium phase, following a recent northward bias. In the month of March 2013, the price moved largely sideways. You can see the Trendlines on the chart: it is either the price breaches the upper Trendline, closes above it and trends further upwards, or breaches the lower Trendline, closes below it, and trends further downwards. The upward scenario is, however, much more likely, because the RSI period 14 is almost above the level 50 (currently), and the recent bias is bullish. What is happening right now is simply a pause in the bullish bias (trendless period), so the price is expected to resume journeying upwards. Sports that require great endurance and the art of speculation would always pose challenges. Imagine otherwise and blame yourself. It takes many years of experience to be free from irrational emotions that are usually felt when one’s positions are open. For the mature trader, the final result of an open position makes a little difference.

This article is ended with the quote below:

“No matter what system or if you invest even with a world class money manager you will at times go through long periods in which you do not make money.” – Andrew Abraham

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.