Premier African Minerals – An Equilibrium Market
By
Azeez Mustapha
PUBLISHED:
06 May 2017 @ 10:51
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More info about Azeez Mustapha
Premier African stock (LSE:PREM) is currently in a tight equilibrium phase. Price would soon go out of balance as momentum rises in the market; and this is something that may eventually favor bulls.
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 side of the chart.
Price, despite its sideways movement, is above the EMA 200 (other EMAs are flat). This suggests hidden bullish strength, which would become more and more visible when a big breakout occurs in the market. When that happens, price would go upwards, reaching the supply zones at 0.80, 0.90 and 1.00 this year.
Should price cross the EMA 200 to the downside, the bullish expectation on the market would become invalid.
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