The SA Top40 index has been facing alot of resistance lately due to the current pandemic and political climate. The SA president recently announced that they will ease the lockdown to level 1. Good news for airlines (and tourism sector) as international borders are open and more businesses will hopefully be able to resume. This should boost investor sentiment in the short-run.
However, the index is structured in key levels/zones and recently has a strong downward trend. Thus, setup 1 or 2 can be expected. Wait or clear breakouts and retests confirmation to play it safe.
However, the index is structured in key levels/zones and recently has a strong downward trend. Thus, setup 1 or 2 can be expected. Wait or clear breakouts and retests confirmation to play it safe.
Comment:
Setup 2 was achieved.