PRETTY CLOSE

The index dropped by 36.83 to close today at 26,195.74 valued at N2.193bn.

Another sideways day forming yet another bearish continuation pattern as NSE ASI closed below its Short time moving average . Short time moving average is currently below mid-time, AND above long time moving averages, meaning Bearish in short-term, and neutral in mid-long term.

Market looks pretty close to decide If the Bulls or Bears are in Charge, but Nothing in the charts suggest any possible reversal as volume continues to rise into the dip as the NSE ASI is in short term oversold condition right now.

I don't see the market going FULL straight down, as there were signs of Buying pressure before close of market.(perhaps a BULL TRAP), But current scenario is, market is making LOWER HIGHS, (BEARISH).

I need to see that BREAKOUT above 26,400 points to be in a comfortable Entry position.

For value investors, This is your market.(BUY LOW)

For Short term? TRADE WITH CAUTION.

Trade within TRW Support/Resistant Levels.

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