The bearish engulfing on JSE:GLN seems to be playing out quite well so far. Along with that, the stochastic and MACD have both turned downwards, so once the EMA's cross in a downward direction, the momentum strategy will also be triggering and alert on this one.
A short has been entered on JSE:SBK based off of our momentum indicators. We are aiming for a target at around 12300 or adjusting the stop loss accordingly as the trade moves downwards.
The exotic pair of the U.S. Dollar to South African Rand (USD/ZAR) has not correlated strongly with other USD pairs since this year. In fact, the USD is down 1.3% against the ZAR since the beginning of the year, all the while, the USD index has been super bullish, up 6.1% YTD. While performing better than the GBP, EUR, and other major partners, the USD is still...
JSE:MTN is looking good for a long position if it breaks higher than yesterday's price action. The stochastic as well as the MACD are both showing buy signals. I'm going to wait for confirmation above yesterday's levels before entering long.
JSE:SSW is looking promising for a long position if confirmed with price action.