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27,709.00

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Not applicable
for those who know what a kangaroo tail is, we experienced one the last time the JSE touched these levels. Today could be shaping up for one as well - but will need tomorrow to confirm.
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sponono
Super Contributor
Agreed. 27,540 for entry on long side?
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Yup.It's a LONG screamer...or...a Triple Bottom Breakdown below 26900 TOPI..and if that happens...it's time for the Fibonacci 50% Support at 26 575.Very tricky as at.Medium-term Uptrend Line smacks into ALSI Weekly Channel Support around the 26400s.That's where my Radar points for a Long and P&F Resistance is 27700-27799 ( short-term.) as a Short.Lower-risk Short at 28500.P&F based.
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PS: P&F exact Resistances are 27700-27799...28000-28099...and 28500-28599...pick your Risk-level.
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I wouldnt mind it if we traded towards the 26950 level then bounce hard, my view the market still looking soft and vulnerable..im still long but tight stop and will re enter as market moves
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Rams
Super Contributor
TOPI....26861 will complete the triple flat correction which is at 50% retrace. If we go down to 25880 at 61.8%, then that will complete a triple zig zag correction. For this pattern to be validated, we need some great worldly incident that will take the index up(printing money, US elections)....some bad worldly incident will take the index down thru these support levels. Thats what the waves say....but common sense as Simon would say...Nobody ever knows....
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Not applicable
stopped outa my long, short it is then
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Rams
Super Contributor
trading in a very "restricted" range , but can get at least 100 points out of it....either way!
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conventional range bound trading strategy is to short at highs, buy at lows and sell in the middle. Today's market gives you about 140pts between top and bottom - so you have about 70pts to play with. Hardly worth the riks, in my humble opinion.
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Rams
Super Contributor
Yes...time to fish?
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Must say...looking at the Macro pic on weekly Charts...Indexes deeply oversold,but Euro/$ can drop further to 1.37 and that is why I'm thinking we could see a sudden downdraft below 27000.Since the correlation between EuroDollar and ALSI seems more like a pure Forex trade....as at.Those nasty Algorhythms could trigger super-fast...either way.Cash is king.I wait.
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since we are on the sidelines for now - can you explain more about your point and figure analysis? Where do you get the charts from?
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sponono
Super Contributor
looks like 27,000 has provided support. maybe its time to go long OML or CFR.
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waiting for tomorow to see how the US closes and others open.
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...I draw my own P&F Charts on the TOPI,FINI,AGL,AMS,BIL,SOL.That's my mix.6 charts....It never ceases to amaze me how deadly accurate they can be.AMS,particularly and the FINI.
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FEK
Super Contributor
Hey Virus, so what are the charts saying about AGL ??????
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Rams
Super Contributor
Virilius?
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sponono
Super Contributor
waiting for higher high: above 27,540 on TOPI, 1392 on OML and 4150 on CFR.
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Not applicable
Virus.Nice one...heh.Jut call me Zarp and we'll call it quits.##In answer to your AGL.I would Click! a Buy at 282.(=downchannel support-buy).Right now,she's oscillating around her 61.8% Fib-line at 308 = Support.Difficult to see EXACTLY,as at.P&F chart says:Now on a SELL signal.(but Support/Resistance) is the important info.(not just the Buy/Sell signal.)= Me wait.Me See.No buy.....and virus-free.
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FEK
Super Contributor
Thanks Zarp or should i say Virilius....please do let me know when the sell signal changes to buy....
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