'Kunle Adeyeri
My motto or that of my training outfit KOTA (Kards Online Trading Academy,www.kardsfx.com) has always been 'Trading opportunities'. This means there is no restriction to any particular or set of currencies or commodities. As long as the technicalities and fundamentals of the market are understood, you can go for the money on the table. My training has always been and will always be tailored towards instilling confidence in trainees to trade in any online instrument, be it, forex, commodities like oil, cocoa, soybean or futures that gives opportunities to make money at any given time or period.
The market is a repeated pattern as they say in online trading; and this brings me to the topic above, which affects my beloved country, Nigeria. There is light in the horizon in earnings for Nigeria in her major resource, crude oil. Though not sacrosanct due to other unforeseen conditions that may prevail, market indications portray price gain above the nation's budget price of $35 or $40. In fact, the price may hit $44-$45 in the shortest time possible.
The monthly chart on Brent crude oil price suggests bullish season or uptrend with price hawkish reversal signals coming up from January 2016 after some all time lows. From the current world events in the crude market and policies, it seems we will be favoured. I can foresee price hitting $80 per barrel mark or more on or before the end of the year. If resistance and support levels are broken, we may in the next one or two years get back to over $100 mark.
Crude oil market pundits, economists and government policymakers should begin to plan now for the boom, so we are not caught unawares and find not what to do or excuses for inadequate planning with money when it materialises.
Technically speaking, a break of the current support level at the $40 area suggests probably a close at $44, breaking the moving average line on the monthly chart. If this holds, then, a resistance level at $56 mark area might be next in a couple of months. If we are lucky, next is the closing up of the gap, which occurred in November 2014; thus, leading us to the $80 mark area and ultimately the over $100 mark target. However, this analysis may sound trivial to many. I am of the opinion it has a high probable chance of occurring. And if I may digress a little; politically, it means that we have a bright future again with the government we trust that will earn well to meet the yearnings and aspirations of the people and have the wherewithal to effect the change mantra. A lot of changes will follow with our currency, naira, appreciating more. The capital (stock) market will see a lot of liquidity, hopefully.
The market reversal is beckoning as predicted by me to those close to me in 2008 when the economic crash occurred. I did not have the opportunity of writing to the public like this then. I have the hope based on my knowledge and my little trading experience that the market looks up for the black oil. This piece will be reviewed by the end of the year.
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April 2016 trading tips/signals (monthly chart analysis)
Suggested Entry Price (SEP) and exit Take Profit/Stop Loss (TP/SL) could be at the trader's discretion. Entry (SEP) and exit (TP/SL) may also occur on or before or in-between the stipulated period. Pairs could be traded in the direction of the limits before SEP. Money management is strictly advised.
GBPUSD (BUY LIMIT): Suggested entry 1.4010 – 1.4085. [email protected][email protected]
AUDUSD (BUY LIMIT): Suggested entry 0.7450 – 0.7490. [email protected][email protected]
NZDUSD (BUY LIMIT): Suggested entry 1.1162 – 1.1180. [email protected][email protected]
USDCAD (SELL LIMIT): Suggested entry 1.3040 – 1.3118. [email protected][email protected]
USDCHF (SELL LIMIT): Suggested entry 0.9614 – 0.9624. [email protected][email protected]
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Source → Forex trading: Potential boom for Nigeria
