Inverted Cup and handle still active

28. März 2023

The SA Top 40 has seen a strong rebound over the past 6 trading sessions, but we still have a textbook inverted cup and handle at play. Price has only today re-tested the breakout level which also coincides with the Daily 100 SMA which should be acting as resistance here. Without a break above the regression channel @ 70880 we will likely see the downtrend resumed to the inverted cup and handle target near the lower end of the channel at around 66880