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SteynTrade
Jan 27, 2019 8:22 AM

JSE:J200 Top 40 Approaching Resistance  Short

South Africa Top 40 IndexJSE

Description

After a Change of Character (CoC) and major Sign of Weakness (SoW) the JSE Top 40 has been seen the start of a smaller trading range (TR). Price is now approaching the top of the TR (Round number 49000) with confluence with the 200 Day SMA and the 2019 Yearly Pivot Point. The Rally is seen on lower volume than the decline and negative divergence with the RSI. Looking for a reaction to confirm a move to the bottom of the TR in the week to come.

Comment

The move to test the bottom of the TR started.
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