Cup and Handle formed on Standard Bank. The price broke above the brim, then it came back down to give a conservative entry. 7>21>200 RSI>50 Target R200.00 WARNING The biggest issue is that a GAP has formed during the formation. Statistically, gaps close 70% of the time, which means we can expect downside to come in the next few days.
Look the bias is bullish but with the gap makes it a medium probability trade.
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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