AkhonaG

AkhonaG

The SA40 Index has rallied by almost 8% since the low of 13th Jan without a meaningful pause. I anticipate that we have reached a peak between 78900-79500 in which I am placing a SELL for at least 4000 points to support of 75k

AkhonaG Updated 

SA40 has retraced by 4% from December high, we expect that it finds support between 7600-75000. We go long at 75700 with TP 78000-81500 over the next weeks. Stop Loss just below 74600

AkhonaG Updated 

SA40 has potentially found support as it has entered oversold territory and formed Higher Low point in a bullish channel. Buying at current 75600 will potentially yield 5000 points to 80000 and new all time high

AkhonaG

Going Short on SA40 at 69200 Stoch RSI is trading at overbought levels therefore the upside is now limited.

AkhonaG

We are selling SA40 because it has reached short-term trendline resistance.

AkhonaG

JSE40 has run made gains of 9.67% in January, the average yearly gain is 12%. It's way to early for the current gains, RSI is extremely overbought and the rising trendline is too steep. I expect a significant pullback over the next few days. We already went short at 75144 and we expect a minimum of 3000 points.

AkhonaG

JPN225 has hit resistance of the downward trendline 28500, we expect the pullback to hit 27000-26000 over the next weeks to come

AkhonaG

SA40/J200 gained almost 5% for the past week, we expect a reversal for the last week of July 2022/ Trendline tested as well as MA50, 62000 is also a strong psychological resistance, we went short at 62000

AkhonaG Updated 

SATop40 Likely to see correction in the week ahead and this week showed a possible rejection of 63800 area.

AkhonaG

Index seems not ready to break the trendline resistance. Let's see how next week unfolds if precious metals rally it's likely to follow through.

AkhonaG

A close below R2.00 will confirm failure of the long trade.

AkhonaG

Caution ahead as price rejected 51300 trendline resistance of the falling wedge. On weekly chart the Index printed a Doji candle indicating potential reversal.

AkhonaG

Pre-covid levels have been tested and we are likely to see 8% correction

AkhonaG

Top 40 formed a bearish reversal last week. For the past 3 years it has been trading within a range and has now reached the upper end of that range. There is a high probability that in the next weeks and months it will test the lower end of the range starting with 49000 then 44000. RSI Testing 60 which has been a turning point historically as illustrated.

AkhonaG

Top 40 formed a bearish reversal last week. For the past 3 years it has been trading within a range and now has now reached the upper end of that range. There is a high probability that in the next weeks and months it will test the lower end of the range starting with 49000 then 44000. RSI Testing 60 which has been a turning point historically as illustrated.

AkhonaG

I think 56000 will need to be cleared for the continued momentum on RESI failing which a reversal is on the table.

AkhonaG Updated 

Opened short position at 7356 - expect to open weaker on Monday. TP1 7290 TP2 Open

AkhonaG Updated 

As explained