The weekly chart shows indecision between the buyers and
sellers on a much lower volume compared to previous week volume.
The Bollinger band indicator is still in a tight range.
Technically, we may expect a selloff in the coming week but
in an indecisive case we need confirmation on next week candle formation.
Bottom-line - we should closely watch the daily sentiment to
gauge the behavior of the market and determine whether accumulating during the
sell off would be good at around the N18 mark.
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For more analysis, realtime trade calls and Technical analysis education of stocks both for Nigerian Equities Trading, FX, Commodities and other global markets, mail trendonomicsng@gmail.com or contact 09092133294 to join our mailing list.
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