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Jse_top40

Expecting a reversal soonThe Sanlam Group is one of the largest established financial services groups in South Africa. Established in 1918, the group demutualised in 1998 and Sanlam Ltd then listed on the JSE Ltd. and the Namibian Stock Exchange. The group has business interests elsewhere in Africa, Europe, United Kingdom, India, the USA and Australia. Daily: We can see an impulse move on the left of the chart from the high and there is currently a corrective structure formation taking place. I believe that we are very near the reversal point which will indicate the end of wave 3 and the start of wave 4 to the bottom of the structure. From that point I will need to see either a confirmation of a reversal for wave 5 before the big move to the downside or alternatively a break of the structure at the bottom of wave 4. I will be watching lower time frames for confirmation of the breaks or reversals.
JSE:SLMShort
by Linton_White
Waiting for confirmation of the break.South32 is a globally diversified metals and mining company. They mine and produce bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc in Australia, Southern Africa and South America. In May 2015, South32 successfully demerged from BHP Billiton and listed on the Australian Securities Exchange, the Johannesburg Stock Exchange (JSE) and the London Stock Exchange. Weekly: There has been a break of the support trendline but price pulled back above it. I will be looking at smaller time frames to confirm whether the break to the downside will be confirmed. H4: A breakout on this structure would indicate the start of more downside with targets around the 2400 mark. There is the possibility of another leg up but at this point in time I am expecting to see confirmation of the downside.
JSE:S32Short
by Linton_White