We have a Bearish Engulfing on JSE:MRP which was formed yesterday. This could mean a possible trend reversal from the short term up trend.
I have entered a short trade at this morning's opening.
JSE:MRP has been trading in an upward price channel for quite some time and it has broken through the mid line recently and is looking good to go upwards. Along with this, the stochastic has recently turned up through the 20 line and the two EMA's have crossed upwards.
I will look to enter around the 25000 level with a target around the 26200 level