EXX
Potetial inverse H&S Close above R144 triggers the long idea of an inverse H&S. 1st target is R160 and full target at R210. This will require some serious legs if it were to pull through.
European Banking positioning for major declinesEuro interest rates are negative and the curve remains flat with no end in sight. This is destructive to net interest margin and the sustainability of European banks. Investors are stepping away from bank shares, having sold throughout 2018 and prices are back to 2009, 2012, and 2016 levels. European banks sector is now heading for a break to multi-year lows. Cycle bottoms are roughly 3.5 years apart. Mid-to-late 2019 marks the next bottom.
EXXARO at 2 support levelsThe price has come down steadily to test the rising trend support at around 126.00. However, there a small horizontal support at 124.00 that is a stronger buy. The stock is extremely over-sold at current levels but it does leave the door open for price capitulation. The play here is to wait for a green candle and then buy for a relief rally.
