Short
$J210 Resources monthly chart - not at levels to chase.
Explanation in the chart. Not an area i would be getting involved in commodity stocks on the JSE. Probability favours consolidation and a retracement in the sector.
Note
Monthly chart looking good again after trying to break both resistance trendlines intra month. If the monthly closes around here (2 trading days to go) this will be a very bearish reversal candle within both trendlines & i would be even more cautious on resources going forward
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"If you do what you love, you'll never work a day in your life" - Marc Anthony
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.