Fini looking funny
Taking Data from the weekly chart here, we could be seeing a potential false break on the Satrix Financials price.
The “break” higher occurred at around R18.50 and the price has settled there or there about…
But if we see a weekly close below R18.50, it could signal that the break-out has failed and that we may well see a pull-back that hopefully coincides with a weakening Rand.
Should the price fall back below the break-out line and resistance holds, we could see a move back toward a test of the 50 day moving average.
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