ALSI top40 channel breakdown and retest74050 Short

JSE:J200120

South Africa Top 40 IndexJSE

Description

⋅ Feb 1, 2023 1:28 PM

ALSI top40 index broke below its 21 day bull channel yesterday and has retested that same breakout level at todays HOD.(74050)

If the bears can maintain below this level and gain momentum, the next target support area is around 72300

Trend Analysis Chart Patterns

Comments

Triangle231

⋅ Feb 1, 2023 1:36 PM

Thank you... i see you use 2 hour chart... would like to know why you prefer that ? say vs 1 hour ?

T2TWELL

⋅ Feb 1, 2023 5:01 PM

@Triangle231, HI, 1hr or 2hr same thing. 2hr just allows me to load more data on the charts

AkhonaG

⋅ Feb 1, 2023 6:57 PM

@Triangle231, It's best advisable to always do multi time frame analysis to get a better perspective on any instrument