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Affero Mining (LSE:AFF) has been in a downtrend and would continue thus. When the price is under serious pressure, you see it start to fluctuate on the chart. The more the pressure is high, the more lasting and more significant the trend would be (as it goes down from an equilibrium zone).
The ADX period 14 moved strongly recently, and has been able to keep above the level 30, despite the present low volatility. The ADX DM- is clearly above its DM+ counterpart. The MACD (default parameters) has its histogram and signal lines below the zero line. There is, therefore, a Bearish Confirmation Pattern on the chart. The price, which was at 77.5 when this article was being prepared, could go down to 75.00. In most cases, reducing market pressure ultimately reduces the price movement – something that could stall the current bias and lead to a sharp reversal in the opposite direction. That is why one would do well to seek only short trades on Affero Mining. If you do not eat lettuce for the sake of salad, then you eat salad for the sake of lettuce. Going long could lead to regret.
This article is ended with the quote below:
“I saw experienced traders crying. Something like that leaves a lasting impression as a reminder of the risks involved in trading.” – Stephen Temes
