Goldstone Resources Price Would Soon Go Sky-high

PUBLISHED: 18 Sep 2013 @ 21:03 | Comments (0) | More info about Azeez Mustapha

On Goldstone Resources market (LSE:GRL) the southward breakout that occurred within the last two months proved to be a false one. The price then moved back inside the Trendlines, later breaking the upper Trendline to the upside, and trading further upwards in a turbulent manner.

What happen in other businesses are not what happen in the trading world. The outlook on the market is bearish (though things are tumultuous). The price keeps trading atop the upper Trendline while the demand levels at 1.80 and 1.60 are supposed to do a good job in checking any southwards threats from the bears. The RSI period 14 is above the level 60, going towards the level 70. The outlook here is indeed bullish.

Conclusion: Goldstone Resources may go sky-high irrespective of what analysts say. Fundamental figures tend to favor the dominant bias, whether the figures themselves are positive or negative. Even a mean reversion effect caused by some fundamentals are invariably transient in nature. What some economic news reporters deem too insignificant to mention may have effect on the markets. Nowadays, decisions made by central banks even have more impact on the markets than decisions made by politicians.

This piece is ended with the quote below:

“….Studying prices intensively enabled me to develop a better feel for the market.” – Ralph Acampora

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Ignore Goldstone Resources Until… by Azeez Mustapha