South Africa Top 40 Index
Panjang

Vuvuzela Pattern for the JSE ALSI 40 target to blow up to 75000

73
Well, well, well, we've identified the tumultuous and monotonous pattern on the chart finally.

It's known as a Broadening Triangle or what I call a Vuvuzela Formation.

The price diverges instead of converges in a triangle pattern...

Now this can be a continuation or a reversal pattern. It all depends on the breakout.

Looking at the D&S and liquidity it looks like the JSE really wants to break above the formation and head to new highs of the year.

75,000 is a decent first target...

Also with Smart Money Concepts we can see there is a Sell Side Liquidity Order Block showing how Smart Money is sweeping selling and buying into it, hence there isn't a major push down in price just yet...

I'm bullish with this Vuvuzela. Now we need the JSE to blow up.

Penafian

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