TOP 40 - Simple Analysis

Looking at the TOP40 Index, we may derive the following from the weekly chart:

1. Price is at a notable resistance level where many rejections have occurred.

2. Prince is backtesting the weekly trend line break (purple line).

3. I am favouring a move to downside.

4. Since we are at a high, the risk is far less than trying to short once the move has occurred (if it does).

5. As always - maintain your risk management.

Let's see what happens.

Note: The views provided herein do not constitute financial advice.