Hello,
In march we did an article about this pair and indicated that the index was overstretched and a correction was imminent. Link
The correction happened and the price has since reached all time highs once again. We see this as a perfect opportunity for investors who invested during the correction to take profit since another correction is most likely in the near term. Market uncertainty is being fueled by concerns over U.S. trade policy, as there is very scanty information on agreed trade agreements. Investors fear these tariffs could slow economic growth in the world's largest economy. However, Trump has suggested a softer approach, stating that not all threatened tariffs would be imposed immediately and some countries have received exemptions.
Given the current uncertainty, we anticipate a further correction in the SA40. Investors considering exposure to this asset may wait for the correction to play out before entering a long-term buy position.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
In march we did an article about this pair and indicated that the index was overstretched and a correction was imminent. Link
The correction happened and the price has since reached all time highs once again. We see this as a perfect opportunity for investors who invested during the correction to take profit since another correction is most likely in the near term. Market uncertainty is being fueled by concerns over U.S. trade policy, as there is very scanty information on agreed trade agreements. Investors fear these tariffs could slow economic growth in the world's largest economy. However, Trump has suggested a softer approach, stating that not all threatened tariffs would be imposed immediately and some countries have received exemptions.
Given the current uncertainty, we anticipate a further correction in the SA40. Investors considering exposure to this asset may wait for the correction to play out before entering a long-term buy position.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Paid trading group with access to discord ($5 per month)
patreon.com/thesharkke
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
If you enjoy my market insights and analysis, I’d love your support on my journey to hit 5K followers. Follow me here on TV
Paid trading group with access to discord ($5 per month)
patreon.com/thesharkke
Paid trading group with access to discord ($5 per month)
patreon.com/thesharkke
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.