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South Africa Top 40 Index
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Top40 rolling over- Short the bounces

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The Top40 has been under pressure over the last few sessions and today it is looking like it has finally reached exhaustion. As the RSI begins to show more weakness, we can see how the Top40 has started rolling over and now it does appear that momentum has shifted to the downside. I think any bounce can be shorted here for a corrective move back down towards 71000. I have marked the area of support where the previous breakout occurred. I won't be surprised to see a test of that level. I'm pretty sure I don't speak out of turn when I say, we have moved too high, too quick and it is time for some sanity to enter back into the market.
Trade fechado: objetivo atingido
Well that happened very swiftly...
RobbyP
Chart PatternsTrend Analysis

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Chart PatternsTrend Analysis
RobbyP

Aviso legal

As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.