The likelihood of price retracing into this level is high before any significant move higher.
Retest Anticipation: The chart shows a projected retracement towards the key level around ₦1,549.48, which lies within the MSS zone. This level is now acting as potential support.
Bullish Scenario: Look for long entries upon clear bullish confirmation at the ₦1,549.48 level, with a potential target back toward ₦1,600–₦1,630.
Bearish Invalidator: A strong break below ₦1,540 could invalidate this setup and shift bias to a deeper correction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.