Technical Analysis - JSE Top 40 Spot (J200)

Technical Analysis - JSE Top 40 Spot (J200)

Daily Chart: The index continues to trade below the neckline of the inverse head and shoulder pattern, the level which currently also serves as resistance at 52160.

This level is above the 200-day sma however the 3-day RSI is starting to roll over from an overbought level.

Traders shoulder take caution around current levels, considering the “hanging man” candle that was printed on Friday 8 June followed by the tiny inverse hammer formed yesterday.

Leave a Reply

Your email address will not be published.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