The South Africa 40 Cash Index looks to have formed a bullish price reversal around the 84030-support level (previous high). The reversal suggests that a very brief pullback from all-time high territory may be over and that short term gains are now resuming in line with the longer-term uptrend still firmly in place.
Overhead resistance suggests an upside target of 87400, while traders who are long might consider using a close below the low at 83400 as a stop loss indication.
Cash adjustment expected
The South Africa 40 Cash Index is expected to adjust for a dividend in the underlying of around 54,3 points on Tuesday the 13th of May 2025.