By closing above the weekly resistance trendline, the JSE Top40 has confirmed it is in a new weekly cycle which is upgrades our DXY trade idea from “Rest” to “Downtrend”. Looking at the daily time frame, the Top40 is nearing oversold levels and is likely to reach a daily cycle peak between day 41-50 to back test the broken trendline. Thereafter it is expected to break the supporting blue trendline into a cycle low.
At that point one can go long on any missed opportunities within the Top40. Look out for ideas to be shared for the best shares to pick with enough room for a healthy uptrend into 2023.
At that point one can go long on any missed opportunities within the Top40. Look out for ideas to be shared for the best shares to pick with enough room for a healthy uptrend into 2023.
Trade closed: target reached
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.