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The South African stock index has revealed support and resistance zones that the equities continue to respect. Most recently, the index retreated to trade in the support zone at 69,000.00/70,250.00.
A passing below the 69,000.00 mark could result in the pair declining to the low level range at 67,000.00/67,550.00. However, the decline could be slowed down by the 68,000.00 mark. Further below, note the descending trend line that had guided the index down in May.
On the other hand, a recovery of the equities might be slowed down, before reaching the high level zone at 73,750.00/74,730.00.
Thu, 29 Jun 2023 13:20:31 GMT
Source: Dukascopy Bank SA
The South African stock index has revealed support and resistance zones that the equities continue to respect. Most recently, the index retreated to trade in the support zone at 69,000.00/70,250.00.
A passing below the 69,000.00 mark could result in the pair declining to the low level range at 67,000.00/67,550.00. However, the decline could be slowed down by the 68,000.00 mark. Further below, note the descending trend line that had guided the index down in May.
On the other hand, a recovery of the equities might be slowed down, before reaching the high level zone at 73,750.00/74,730.00.