Chart patterns and trends are a function of price movement, and prices do not change based on fundamentals alone! Prices move up or down based on the perception of fundamentals. When an investors understands this basic concept, they have a stronger perspective on when prices are reversing, and when trends will continue.

Simply put, if you see a candlestick bullish reversal signal in the oversold condition, the probability dictates that an uptrend is about to occur. The same analysis can be applied to a sell signal. If you witness a candlestick sell signal in the overbought condition, the probabilities indicate a downtrend is about to start. See the charts below.

NGXASI Weekly Chart (Opening)

NGX Banking Index Weekly Chart

NGX Insurance Index Weekly Chart

NGX Consumer Goods Weekly Chart

NGX Industrial Goods Weekly Chart

NGX Oil& Gas Index Weekly Chart

Oando Weekly Chart

UBA Weekly Chart

Conhall Plc Weekly Chart

Prestige Assurance Weekly Chart

Zenith Bank Weekly Chart

Conoil Weekly

Wapco Weekly Chart

Nahco Weekly Chart

NEM Weekly Chart

CWG Weekly Chart

SterlingNG Weekly Chart