Columbus Energy – a clean bullish market

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Columbus Energy shares (LSE:CERP) have become a clean bullish market, following the bullish run which started last month. The bullish run is expected to continue for the reason below.

The market consolidated in June, July and August; 2017 only to break out in September. That is the trend that remains in place till now.

The ADX period 14 is at the level 60, showing a strong momentum in the market. The DM+ is far above the DM-, meaning that bulls are currently the winners. The MACD default parameters has its signal lines and histogram above the zero line. This is a Bullish Confirmation Pattern in the market, and further upwards movement is cleanly possible.

Columbus Energy may thus reach the resistance levels at 8.500, 9.000 and 9.500 within the next several weeks.

 

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