Technical Analysis - JSE Top 40

Technical Analysis - JSE Top 40

After finding support at the 48000 level, the index has continued to push toward the previously mentioned 50% and 61.8% Fibonacci retracement level.

This level is just below the 50 and 200-day moving averages are situated, where we are also seeing an interesting development occur in that the two 50DMA is crossing below the 200DMA – a technical event known as a “death cross” – a bearish long term development.

Leave a Reply

Your email address will not be published. Required fields are marked *