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ITS TIME TO RESTIndex was up by 229.75 closing 27,929.86. In an already toppy market where more and more
investors are sitting on the sidelines for a significant period of
time, a sudden "good news" OANDO
plc declaring
a Bonus of 1:2 and N3.00 dividend
convinced many of them to go back into the market, creating an
exhaustion peak and then we know what follows... Maybe the
slaughter. Since the beginning of the Bullish rally The Index has a pattern of rallying between 1,600 points to 2,100 points before a minor pullback. Current rally which started in 31st March till date from 25,992 points to 27,929 points (roughly 2,000 points) will likely show the same pattern. Tomorrows trading will surely show signs of Huge profit taking on a lower time frame, while those who missed the Bus will likely get the opportunity to enter New positions. Overall Market time frame still looks Bullish!
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This commentary is not
a recommendation to buy or sell, but rather a guideline to
interpreting the specified indicators. This information should only
be used by investors who are aware of the risk inherent in
securities trading. TRW accepts no liability whatsoever for any loss arising from any use of this expert or its contents. |
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INVEST
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