Timonrosso

JSE ALSI 40 playing catchup with with Americas

做多
TVC:SA40   南非前40指数
Nasdaq and Dow Jones have been leading the pack with the indices.

And now it looks like the JSE ALSI 40 is about to catch up.

It's broken above the downtrend since 1 August 2023 and is showing upside to come.

During the process, it's formed an Inverse Head and Shoulders. The right shoulder is not the most attractive with the neckline, but it's the overall bullish price action that is leading it.

Also we see a short term uptrend with the 7>21MA.

However, the big test will be the price testing the 200MA.

The RSI is also showing upside momentum.

If all goes well we could see the first target at 78,847.

It's important to hedge the positions accordingly and remember anything can happen.

Hence the risk should be smaller than usual.

✅ Facebook:
www.facebook.com/groups/matitrader

🌐Website:
www.timonandmati.com

💰FREE Discord:
discord.gg/c8f37kyv35

Twitter:
twitter.com/timonr

Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
免责声明

这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。