Emed Mining Assumed a Northward Journey

PUBLISHED: 13 May 2015 @ 16:17 | Comments (0) | More info about Azeez Mustapha

Emed Mining shares (LSE:EMED) have assumed a northward journey in the context of a downtrend and it would require further northward attempt before the downtrend can become bullish.

4 EMAs are used for the analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart. The price is now above the EMA 10, 20, and 50, as they are sloping upwards, but there must be a Golden Cross (a scenario in which the price crosses the EMA 200 to the upside), before there can be a confirmation of a bullish bias.

Right now, what we see on Emed Mining is a rally in the context of a downtrend, which can give some bears opportunities to sell short when there is a rally in the context of a downtrend. However, when the EMA 200 is crossed to the upside, all the indicators in the chart would align themselves in support of the bulls.

This forecast is ended by the quote below:

“I’m not suggesting that an optimistic attitude by itself is going to turn you into a super-trader. But it is a prerequisite. You have to cultivate a can-do attitude in this business. You have to be willing to sift through the hype and the get-rich-quick trading schemes until you find something that works for you.” – Joe Ross

What Super Traders Don’t Want You To Know: Super Traders

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