This week has seen the largest down bar. Volatility to the downside has been increasing since 2015 and the clear change in character (CoC) last week could indicate a lot more downside to come. We have been following what has been looking like distribution for some time and this move could be the markdown in phase D. After a possible pause at the bottom of the...
We currently have a very good looking RSI Divergence plus the wave count, however I still think the drop will be actually giving us Wave 4 then we will go bullish thereafter to Wave 5
FX:USDZAR After Moody downgrade whole world expected for ZAR to weaken against USD but exactly opposite happens. Rand is currently 1% stronger vs Majors. This is great lesson that one should always expect unexpected in the markets. Pair star making small flat bottom triangle inside big flat top triangle. All in all market is currently sideways, trading at the...
The Top40's Price action has been anchored between the main Pivot Point (48 400) and Resistance line 1 (53 000) since early February. (200 week ma = 48193). Besides for the month of January the rest of the year's price action has taken place inside this range. Watch for a second consecutive weekly close below the pivot point level @ 48400. A close below last...
JSE:J200 On Wednesday J200 closed below big rectangular consolidation and yesterday confirmed with another close. Looks like more down side coming.
JSE:J200 Roll over on hourly chart. Trying to hold neckline for double top but will be very difficult.
The market is approaching the 48,940 Support. 1M is supported there (RSI = 52.867, MACD = 574.500, Highs/Lows = 0.0000) and the current dip is a solid medium term buy opportunity. Assuming that a roughly -2% Lower High sequence will be maintained we place the next medium term target at 52,200. ** If you like our free content follow our profile...
Within a bigger bullish trending channel there is a smaller bullish trending channel as well, the breakout of the smaller channel will be perfect entry for trendline breakout traders to target the support line of the bigger channel.
I have decided to have a deeper look into the technical structure of our top40 index which should give you a better technical view of what to expect from our market. Firstly interesting to note is that price has rejected off the 61.8% fib retracement using the last swing high and low that we saw between August and October last year. We have seen numerous topping...
Since 2016 the JSE has been declining relative to the S&P 500 but December has shown a change in character with the JSE consolidating while the S&P 500 declined. The Resources sector has been leading the charge and trading in a strong upward channel. In December the resource has reacted to the demand line and is showing strength going into 2019. Resources are...
The market is showing price rejection around the highlighted blue rectangle area. This could signal an upcoming bullish move in the market as a reversal pattern the "double bottoms" forms. We only enter when the market breaks out of the bearish trending channel, at the green marked price with the red as SL and 2 TPs in blue.
JSE:J200 Cup and handle made on J200 break of neck like will open some 4500 points downside. Target around 40000/40500
It was a mixed start to the week across global equity markets, with some major indices finding strong support from oversold levels (Europe) when viewed on a short term basis while US markets rose in the first hour of trade only to fail to hold it's intraday highs as sellers regained control and offload more stock at year-to-date lows. This time, fears around...
BID starting to look real attractive for a long @260 RSI indicating oversold MOM seems to be picking up MACD looking for bullish crossover Buy @ 260 TP @280 SL@250
Tuesday saw another down day across global markets as the sellers remained in control for much of the session on the JSE, across Asia as well in Europe as contagion and investor nervousness kept fingers on the selling button. On the Top 40 index, only 3 out of 40 shares closed in the green, this being British American Tobacco, Anglogold Ashanti and Anglo...
The biggest one-day rally in three years in Chinese equities on Monday failed to inspire other major global markets to shoot the lights out. This comes as a traders and investors in Europe and the United States face homegrown hurdles that could potentially put the brakes on short term gains. In the US, mid-term elections are sure to bring a fresh bout of...
Global equities ended in mixed territory on Friday as traders and investors digested fresh data out of China, the prospect of further rate hikes in the United States while assessing the potential for geopolitical tensions between the US and Saudi Arabia. Volatility was subdued during the North American trading session as the Dow Jones Industrial Average...