UPDATE: JSE ALSI 40 - A break in price is imminent
Here is the update with the ALSI 40...
It seems to be in a tighter range with the resistance (short term downside)
and the support from the Symmetrical Triangle since Dec 2022.
We will be watching these levels carefully and will look to hedge positions as we are heavily short at the moment.
At first glance, it shows that the price action is indeed more bearish right now with the resistance line in tact. And as there has been a bounce already, we might see a bit of consolidation before the next big move.
We'll be watching the Americas as well, to help give some type of leading direction...
Happy Monday and trade well.
It seems to be in a tighter range with the resistance (short term downside)
and the support from the Symmetrical Triangle since Dec 2022.
We will be watching these levels carefully and will look to hedge positions as we are heavily short at the moment.
At first glance, it shows that the price action is indeed more bearish right now with the resistance line in tact. And as there has been a bounce already, we might see a bit of consolidation before the next big move.
We'll be watching the Americas as well, to help give some type of leading direction...
Happy Monday and trade well.
✅ Facebook:
facebook.com/groups/matitrader
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timonandmati.com
𝕏 (Formerly Twitter):
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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