Bushveld Minerals Limited shares (LSE:BMN) are bearish in the long term, but bullish in the short term. Bulls are striving hard to undo the protracted bearishness registered in the charts.
The ADX period 14 is almost below the level 20, which means the momentum in the market is not currently great. DM+ is somewhat above DM-, meaning that bulls still have some strength.
The MACD default parameters, does have both the signals lines and histogram above the zero line. Thus, by what the MACD signals, there should be a breakout in favor of buyers very soon.
But then, the Bullish Confirmation Pattern in the market should become stronger and BMN price could then skyrocket towards the distribution territories at 6.00, 7.00 and 8.00 within the next several months.
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