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  • Writer's picturePeet Serfontein

Analyst thoughts: Top 40 Short-term

VIEW ADDITION: BEAR TREND EXTENSION TO 66750 SEEMS LIKELY

  • The general bearish stance from R3 to R0* has materialised, but a subsequent break below R0* requires some adjustment to the interim stance.

  • The break of R0* has neutralised any bullish potential off this level (perforated arrow).

  • Further downside targeting S1* is likely and could be followed by a meaningful bullish reversal.

  • The red arrows indicate the prevailing outcome until a more thorough analysis is made.

  • Note: Caution is advised, as the market is oversold around current levels (highlighted RSI). Bullish spikes through R0* are highly likely.

  • Conviction: Medium



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