-16% and counting since 21 August. Frustrating sitting with any resource ETF's or shares right now. You need a lot of patience and a long term view, or this will be a money losing exercise almost all of the time. Always been a volatile sector of price takers. Feast or famine, and currently it looks more like famine than feasting.
A two year downtrend on the Satrix Resources ETF has been broken. The 200 day moving average has been tested and it acted as support. Looking bullish. I have a position. Target for me is 76.
Copper retraced back to the 50%-61,7% Fibonacci retrace levels. An old trader I used to know called this the ambush zone, meaning it's a popular zone for a bounce or a pullback, depending if you're working off a low or a high. Interesting area to watch. No position.
The price may rise to $82 but could also fall to about $70. 101.9 million barrels of oil will be consumed worldwide per day. By next year, the oil markets appear to be oversupplied. Highlights Lower Russian output and more demand brought on by China's reopening could help oil prices. Low demand and a bleak macroeconomic outlook for China When the...
What a difference a dividend makes! The payment went out on the 15 April 2024, and because there are derivatives that traders can trade off - the algorithm droped the share price quite significantly. I don't think this company should be providing such high dividends if it wants growth in the share price, but hey I'm just the guy behind a computer. So last...
We recently saw it break out of the medium downtrend since January 20024. The price broke above the W Formation's neckline and above the 20 and 200MA. This states the medium term nature is HIGH probability for upside. The concern is the price gapped up and now needs to fill. SO I am patiently waiting for the Gap to close and then rebuy on the bounce of the...
Rectangle formation has completed with Merafe. There has been a strong bullish sense with the stock, where the price action has shot above the pattern and is showing upside and demand to come. We are seeing other signs as well with optimism. Price>20 Price>200 Target 1 will be at R1.72
Unfortunately, the price did break below the H&S and Thungela showed a ton of supply and selling coming in. This means, the target is still set to R91.93. The support at R121.50 was the last hope for the share to hold and bounce. But now it's clear that this resource miner is in trouble. Now let's cover the fundamentals. Coal Prices Affecting Profit: ...
This chart does not need much explanation. Previous resistance turning into support = change of polarity. Watch BHG here as a reversal off this R566-R568 level could turn out to be a nice buy with the opportunity to use a fairly tight stop loss. This is where we also find the 61.8 fib retracement of the most recent swing highs and lows.
PPC hit our initial target at R3.50. It then confirmed a breach above the neckline from the larger cup and handle formed since March 2023... Now there is a slight consolidation before the upside to continue. We see the moving averages are perfectly aligned where 7>21>200 And the RSI>50 and making higher lows. New target will be at R4.40
Large H&S formed since since May 2022. The price broke below the neckline and since then it's been on a one way trajectory. That was until it reached R123.96 in May 2023... THe price since then has consolidated in a sideways manner and has formed yet another Head and Shoulders. With the price breaking below its neckline, we are seeing further signs of downside...
In May 2023, I wrote to you saying I epxect Barloworld to drop. ANd if you had the patience and just invested in this short, would be paying nicely by now. Not only because the price is down but also with the time held you could have made some interest income from the short. Anyway, there is nothing more confirming than when you have a Bearish formation like...
Resource are very likely the place to be over the medium term. Satrix Resources which is a basket of the biggest resource stocks on the JSE is bouncing off a massive level of previous long term support which has now become support (Change of Polarity). This is a great area to accumulate for the long term in my opinion. Will be happy to review after a few months...
Change of polarity here on the longer term satrix resources chart. I believe resources are the place to be in the current environment and this is a fantastic entry point to catch the next move higher
Since the last update, Sibanye formed a major Inverse Cup and Handle. The price broke below and has been coming down. Just to make matter worse, another M formation formed in the interim, confirming it's strength to the downside. 200>21>7 - Bearish RSI<50 Target remains at R16.89 Problem is most market makers don't even offer short CFDs and a script to...
Initially, I wrote that we could expect a break to the downside where there'll be a better entry for a short. But the entry price never struck and the price turned up intot he channel. Price is now breaking above the down channel, indicating a chosen direction - Up. Other signs show some upside 7>21 RSI>50 - Bullish Target R226.76 WARNING I'm not too convinced...
Glencore showing a potential W Formation. We need the price to break above the neckline before we get further traction up. Other indicators show strong upside to come including... 7>21 - Bullish price >200 - Bullish RSI>50 HIgher lows. Target 1 for the resource company is at R136.20 ABOUT THE COMPANY Founding: Glencore was founded in 1974 by Marc Rich, a...
Inverse C&H has formed on AMS over the last month and a bit. This has been the consolidation range as the downtrend seems to be coming to an end. We are seeing signs that the price is nearly ready to break up and out of the pattern. 7>21 Price<200 - But the price need to go back up as it acts as an elastic. RSI >50 Target R1,500 SMC Sell Side LIquidity Order...