JSE ALSI 40 playing catchup with with Americas

Nasdaq and Dow Jones have been leading the pack with the indices.

And now it looks like the JSE ALSI 40 is about to catch up.

It's broken above the downtrend since 1 August 2023 and is showing upside to come.

During the process, it's formed an Inverse Head and Shoulders. The right shoulder is not the most attractive with the neckline, but it's the overall bullish price action that is leading it.

Also we see a short term uptrend with the 7>21MA.

However, the big test will be the price testing the 200MA.

The RSI is also showing upside momentum.

If all goes well we could see the first target at 78,847.

It's important to hedge the positions accordingly and remember anything can happen.

Hence the risk should be smaller than usual.