Looking at the TELKOM, we may derive the following from the weekly chart:
1. Price is at a notable resistance level where the first rejection has occurred.
2. Price may form a reversal pattern at the high going forward - will monitor this and short accordingly.
3. I am favouring a move to downside in the near future.
4. I am currently short at R100 and will hold sells, unless we get a clear high > R100.
5. As always - maintain your risk management.
Let's see what happens.
Note: The views provided herein do not constitute financial advice.
1. Price is at a notable resistance level where the first rejection has occurred.
2. Price may form a reversal pattern at the high going forward - will monitor this and short accordingly.
3. I am favouring a move to downside in the near future.
4. I am currently short at R100 and will hold sells, unless we get a clear high > R100.
5. As always - maintain your risk management.
Let's see what happens.
Note: The views provided herein do not constitute financial advice.
