XJSE_TOP40_CFD trade ideas
TOP40 --- Caution on the long side- The index has pulled back to the ambush zone of the last leg done and consequently the 50day moving average
- Stochastics in overbought territory
- Bulls may tire here and bears take control.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Top40 index: Death Cross concernIt is the first of such a signal since March 2020.
The death cross is a technical chart pattern indicating the potential for a major sell-off.
The death cross appears on a chart when an index’s short-term moving average crosses below its long-term moving average.
Typically, the most common moving averages used in this pattern are the 50-day and 200-day moving averages.
Let's hope it is a false signal.
Stage set for bullish impulse SA40From 63884 down to 54704 SA40 has traced out a corrective flat pattern. The move retraced 50% of the previous impulse back to 89,W support MA. RSI is also back down to buy level to where the previous implies kicked off. The next EW phase will be an Impulsive move to ATH reguardless of the wave count.