South Africa 40 Cash Index price reversal confirms
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 29 points on Tuesday the 3rd of December 2024
South Africa 40 Cash Index
The South Africa 40 Cash Index has now produced a bullish price reversal and closed above the 77050 resistance level. The reversal suggests a short term range trade within the longer term uptrend still in place. The strong close suggests 80075 as the next resistance target from the move. Traders who are long might consider using a close below the 75830 level as a stop loss indication.
Cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 29 points on Tuesday the 3rd of December 2024.
South Africa 40 Cash Index (previous)
The South Africa 40 Cash Index has rallied through the 77050 resistance target, although has fallen well short of the 78450 level.
The price has since corrected before hinting at another bullish price reversal.
We are looking for a strong close on today’s (Tuesday 26 November) candle, preferably above the 77050 level to confirm a reversal.
In this scenario, 78450 again becomes our upside resistance target, while a close below the 75830 level would instead suggest the reversal to have failed.
Cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of 24.5 points on Tuesday the 19th of November 2024.
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