Tethys Petroleum stock (LSE: TPL) has long been in a downtrend and this is supposed to continue. This downtrend has been going on for most part of this year, while rallies proffer short-selling opportunities. We do not want to be fooled by the noises in the market. Rather, we want to look at the Big Picture. On Tethys, the Big Picture is a weakness in the market.
![](http://www.advfn.com/p.php?pid=chartscreenshot&u=DDtiGxc1Bi2iaao6YQCg5GWWI475gCCAV69dqS1fk74=)
4 EMAs are used for this 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. All the EMAs are sloping downwards, with the EMA 50 providing resistance in the near-term and the EMA 200 providing resistance in the long-term. Any rallies into the EMA 10 or 20 may enable the price to nosedive again. It is not sensible to short a bull market, and neither is it sensible to purchase a bear market. The price may eventually reach the support level at 13.00.
This forecast is ended by the quote below:
“Just as scientists claim, according to Chaos Theory, that a butterfly can start a storm, you can imagine that a few key, seemingly minor events, can start a major market move.” – Joe Ross
Learn from the Generals of the Markets: Market Generals
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.