JSE Top 40 Index | J200
The Friday before last (09-December-2022) I discussed the potential for a false break out of a bull flag technical formation. This (then) potential breakout would be in line with the previous highs seen this year (January, March & April). Tuesday's strong move higher saw the index test the previous highs followed by a sharp reversal and downside follow-through, taking out the bull-bear pivot at 67791 while the index close just below it's rising 21-day Exponential Moving Average. Any ultra short term relief rally is likely to be sold at the aforementioned bull-bear pivot.
For more research insights, including trade ideas, get in touch today.
The Friday before last (09-December-2022) I discussed the potential for a false break out of a bull flag technical formation. This (then) potential breakout would be in line with the previous highs seen this year (January, March & April). Tuesday's strong move higher saw the index test the previous highs followed by a sharp reversal and downside follow-through, taking out the bull-bear pivot at 67791 while the index close just below it's rising 21-day Exponential Moving Average. Any ultra short term relief rally is likely to be sold at the aforementioned bull-bear pivot.
For more research insights, including trade ideas, get in touch today.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.