JSE ALSI 40 chosen a direction? - DOWN!
Bearish Symmetrical Triangle has been in the making since 17 November 2022...
However, the last few months, the JSE has just not been able to break above it's most recent declination resistance.
Instead, it's for the first time, broken below the formation - showing the bears are really starting to win.
How long will it last we don't know. But it looks like the JSE ALSI 40 has chosen a direction and it's down.
Other indicators confirm.
200>21>7 - Bearish
RSI<50 - Bounce on resistance
Target 59,428
However, the last few months, the JSE has just not been able to break above it's most recent declination resistance.
Instead, it's for the first time, broken below the formation - showing the bears are really starting to win.
How long will it last we don't know. But it looks like the JSE ALSI 40 has chosen a direction and it's down.
Other indicators confirm.
200>21>7 - Bearish
RSI<50 - Bounce on resistance
Target 59,428
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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)
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