JSE ALSI Broken below 200MA first time since Nov 2022

16. Aug. 2023

Symmetrical Triangle formed on ALSI and the darn price has just been moving within it for months on end.

Any JSE short term trader is most likely struggling with the whipsaws.

If one is not diversified in Forex or Indices - I don't know how they are making an income this year.

Regardless, the price has broken below the triangle and below the 200MA for the first time since Nov 2022.

We are seeing bearish signs continue including:
21>7
Price<200
RSI<50
Target 1 will be 60,000.

WARNINGS: KNowing the ALSI it could most likely cause another fake-out (haha fooled you) trick again. And the price will go right back into the triangle.

The world is showing more bearish signals but as you know things can change SO quickly with the market.

Medium term I'm short until further notice.