JSE ALSI waiting for a direction to break out of

The JSE ALSI 40 continues to move in some form of Symmetrical Triangle.

And it's been doing so since September 2023.

Right now the price is below the 200MA which does indicate a BEAR market. However, when you see the 200MA, it's been moving sideways, which does not give the indicator it's reliable signal for a trending motion.

And with the price near the apex, means a breakout is imminent.

If we look at the international markets like the Dow Jones and S&P500, they've hit all time highs. And as you know, the international markets are leading indicators which could mean we could see JSE ALSI breaking up and also heading to all time highs.

The first target will be set to 73,637 and the next is the moon.

So yes, my bias is bullish in Q1 - 12024