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RobbyP
Mar 13, 2023 2:15 PM

Top40- 4000 points on offer... Short

South Africa Top 40 IndexJSE

Description

The Top40 has come under immense pressure over the last week or so and after the weekend's news, markets are shaky. The index has not only broken support, but also the 50 day moving average, with the RSI looking very weak and stochastics showing heavy selling. I think any bounce near 71000 can be shorted for a continuation of downward momentum. The next level of any meaningful support is rather far away...lots of room to scoop some volatility profits.

Trade closed: target reached

Sorry, forgot to update yesterday.
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