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  • Writer's picturePeet Serfontein

Analyst Thoughts: Top 40 Medium-Term

THE VIEW IS RETAINED FOR A CONSOLIDATION BETWEEN 64 400 AND 72 800 WHICH IS HOLDING.

  • The illustrated outlook is retained in general.

  • Current cluster support around S1 and line Q* is an important medium-term juncture.

  • The preferred view is for a bullish reversal off Q* to R0 and R1*, followed by a R1*/S1 consolidation period, as highlighted.

  • An eventual impulsive bull trend should target R1 and higher. This will only occur on completion of the indicated range.

  • R1* and Q* are interim important levels.

Target and Re-assessment Levels:

Important Levels: Q* and R1*

Primary Trend and Target Levels: Gains off Q* to R1, as part of PQ ranging

Monthly Range: R1*/S1

Prevailing Trend and Target Levels: Gains towards R1

Technical Rating: Medium



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