Has End of the Year Strength Begun on Victoria Oil and Gas?

PUBLISHED: Dec 29 2014 @ 17:55 | Comments (0) | More info about Azeez Mustapha

Victoria Oil and Gas shares (LSE:VOG) have begun going upwards in what can be called the end of the year rally. The recent bias was bearish and price dived further downwards this month before further bearish movement was rejected. Since then, the price has moved upwards seriously, with an up-gap that pushed the price higher.

The ADX period 14 is not very high, meaning that there is still much room for the current buying pressure to move on. The DM+ is above the DM-, which means the bias is bullish. The MACD (default parameters) has its histogram above the zero line. With a continuation of the current price condition, the MACD signal lines would also cross the zero line to the upside. This would result in a Bullish Confirmation Pattern, and thus, price would end up reaching the supply level at 80.00.

We have a bullish outlook on Victoria Oil and Gas. Strategies use historical information to generate signals; plus price conditions are not stable. Short-term predictions may tend to be inaccurate, but over the long term, good gains can be made. As a result of this, serious speculators spend much energy and resources to lessen their trading errors. Trading truth is simpler than you think.

This forecast is ended by the quote below:

“Traders have to make financial decisions under conditions of uncertainty and be able to cope with the results of their outcomes.” – Steve Ward

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