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RobbyP
Mar 24, 2023 8:44 AM

Resources: Technically under pressure... Short

SATRIX RESI PORTFOLIOJSE

Description

Using the Satrix Resources chart, you can see just how much pressure the index is under. Having clearly broken below the 50 day and the 200 day moving average, the BEARS are now in control. RSI is weak and momentum is building more to the downside, I expect the index to test major support in the coming week or so at around R60.00. That relates to about 10% potential downside from current levels...
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