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- The SA40 Cash Index has conformed to Tuesdays guidance (see below) in proving 47200 to be a level for accumulation
- Currently we see the index moving towards our initial target and todays move looks like a break of a small flag formation (parallel blue lines)
- This is considered a bullish formation and supports the view that the short term uptrend is now continuing in line with the longer term uptrend
- On a very short term trading view, traders might consider tightening the failure level to a close below 47050, in light of the global political risk currently
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