Bullish Engulfing & Descending Resistance Breakout on SBK

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STANDARD BANK GROUP LTD (JSE:SBK)

JSE:SBK STANDARD BANK GROUP LTD

Support and Resistance standardbank SBK jse ALSI southafrica ZAR

supportandresistance standardbank sbk jse alsi southafrica zar

SBK has broken through the descending resistance and formed a bullish engulfing candle pattern yesterday. Because of the strong momentum, I decided to enter a long position at opening this morning.

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