JSE ALSI 40 Vuvuzela Formation - could break up!
Hi guys, this could be a concern.
JSE ALSI 40 has been forming a broadening pattern (Vuvuzela) since 12 April 2023.
Now with these patterns, they can break any direction...
If we make a higher low, the chance of the price breaking up is higher. Then we can expect the price to finally break up and out and head to 75,000 as the first target.
As this is Monday, it will set the bar to where the market will be heading soon. We need to hold onto our hats as this can go south just as quickly as it went up last week.
What do you think up or down this week?
JSE ALSI 40 has been forming a broadening pattern (Vuvuzela) since 12 April 2023.
Now with these patterns, they can break any direction...
If we make a higher low, the chance of the price breaking up is higher. Then we can expect the price to finally break up and out and head to 75,000 as the first target.
As this is Monday, it will set the bar to where the market will be heading soon. We need to hold onto our hats as this can go south just as quickly as it went up last week.
What do you think up or down this week?
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Aviso legal
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