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TECHNICAL ERRORIt was a quiet day as the Market traded for 20 minutes today from 4.30pm due to some technical error on the trading engines, with pockets of savvy traders, the NSE ASI was up by 24.09 points on a Low value worth N720m.
Current market index now 23,715.39 within its 50% Fibonacci level of 25,723.95 and RSI 57.70. However, at this point in time, there are still no
confirmation on the technical front of any reversals yet. With the removal of the NSE DG the market seems to to be divided into 2 schools of thought. A day for investors to really calm down and decide what to make of all these mess right now. Plenty of reasons to be optimistic and plenty of reasons to be pessimistic, which camp will win? Due to the duality of these "reasons", trend followers prefer to numb themselves to these noises and simply follow what the market does. Technically, as Long as RSI is above 50, I believe a NEW BULL rally might just be forming. WATCH OUT FOR BULL RALLIES IN THE BANKING SECTOR
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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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