JSE Top 40 Index - Technical Levels

JSE Top 40 Index - Technical Levels

At our last technical review of the Top 40 Spot Index, we warned of a potential resistance close to the downward trend line and prior breakdown level. Since then the price has declined substantially, pushing back below the 200-day moving average as well as the near term 8/21 exponential moving average. Major support comes in around the 48250/300 level while resistance is 49699.

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