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XJSE_TOP40_CFD trade ideas

JSE Top 40 Index (Spot) The JSE Top 40 spot index has advanced strongly since developing a bottom in late August. Off the lows of 47618, the index has appreciated by 3527 points or 7.4%. At current levels, the price trades at prior support of 51336 and is nearing the prior breakdown level of 51546 which took place on 30 July. While it is possible that these level could be breached, it would also be natural to expect some consolidation following the strong recent move higher and while there is no clear short/sell signal at present, traders who took a long from the late August lows may want to partially reduce their long positions. I will be monitoring the index for a potential short/sell.
JSE:J200
by LD_Perspectives
TOP 40 - Simple AnalysisLooking at the TOP40 Index, we may derive the following from the weekly chart: 1. Price is at a notable resistance level where many rejections have occurred. 2. Prince is backtesting the weekly trend line break (purple line). 3. I am favouring a move to downside. 4. Since we are at a high, the risk is far less than trying to short once the move has occurred (if it does). 5. As always - maintain your risk management. Let's see what happens. Note: The views provided herein do not constitute financial advice.
JSE:J200Short
by zeerotrader
1
Top40 - How I miss the good old days!This is not a pretty sight. Should we close at current levels (below 48950), next support levels only seem to be at 47000, which is very much where we started the year. We can clearly see that since the support channel broke on 9 May 2019, that the $JTopi’s momentum turned negative and still worsen every day. The Index is finding itself at extreme oversold levels according to its 14-day RSI. Personally, over the short-term, I will wait for momentum to turn a bit. If not, I will most probably re-evaluate at around 47000 points.
JSE:J200
by SchalkLouw