ZAR
AGL - Short if it breaks through support levelJSE:AGL is currently at a support level from January 2021. If it breaks through this support level, we could possibly see a move down towards the 49000 support level.
SBK - Showing some downward momentumJSE:SBK has started showing some strong downward momentum with today's price action. I will keep an eye on this one for confirmation of a short as the stochastic, MACD and EMA's are all showing downward pressure.
SSW Short JSE:SSW is looking good for a short position soon. If this downward momentum continues, we could be looking at a nice bearish move next week. I will wait for a confirmation below the 6700 area before entering.
Quilter @ strong resistanceJSE:QLT seems to be currently bouncing off of a very strong resistance where it has not broken through numerous times. If it fails to break through again this time, I will consider a short position on it's way down.
USDZAR testing the structure 🦐ON the 4chart USDZAR is moving over an ascending trendline.
The market hit and got rejected by a resistance level and now testing the support area.
According to Plancton's strategy if the price will break above we can set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
USDZAR to the upside #SWINGWith clear formation of a double bottom and price rejection our confirmations have been ticked.
We would want to seek entries upon retest or around R15.50 via pending order to swing to the upside.
Fundamentals are directly relate to this, essentially a positive NFP will bring in massive bulls and vice versa - Trade with caution.
All the best.
Emerging market FX to fall another 4-5% - Morgan StanleyIn other words, they expect a stronger dollar narrative to prevail.
The firm is downgrading their view on emerging market (EM) FX for the second time in two weeks, expecting another 4-5% drop given the current market landscape.
The MSCI EM currency index fell by 0.7% at the lows today and was poised for its biggest daily drop since March last year, only to recover a little upon testing the key support.
That highlights the dollar's standing right now in the market and how vulnerable other currencies, including EM currencies, are to the recent resurgence in the greenback.
Now, from a technical analysis, wait for the price to form a continuation pattern and watch strong price action for buy.
GFI Upward MomentumJSE:GFI is showing some upward momentum and we could see an upward move if it breaks higher than this morning 's opening. The stochastic and MACD are both confirming this move with their upward turns and the 3 and 15 EMA's have recently crossed upwards at quite a strong support level.
ANG Turning upwardsAll three of the "momentum indicators" have turned up with this morning's opening which could indicate an upward move on JSE:ANG . It has also bounced off of a significant support level which goes all the way back to August 2019. If it continues with the upward momentum, we could see an upward move all the way to the 40000 resistance level.
Possible short on SASOLJSE:SOL is showing signs of a momentum change, and we could be looking at a downward move to the support level around 15500. The stochastic and MACD have both crossed down a couple of days back and we finally have confirmation from the EMA's that the trend may be changing.
AGL - Upward Momentum BuildingAfter a nice downward trade, JSE:AGL seems to be reversing for an upward move. Our momentum indicators, the MACD, Stochastic and 3 & 15 EMA's are all confirming this possible move.
I will be looking at 60000 resistance level for a target.
GLN short if it breaks through supportThe MACD and Stochastic indicators on JSE:GLN are both signaling a downward move. However, it is currently trading around a support level (+-5800) and I will be inclined to wait for it to break through that level before entering short. If it does play out, we could see a move to at least the support level of around 4900.
ARI Reversal possibilityJSE:ARI has reached a level of resistance and seems to be turning downwards for a short move. It has been confirmed by the stochastic, MACD and 3&15 EMAs. If the move happens, we might see it go down towards the 200SMA where it might find some support before either bouncing upwards or continuing downwards.
Clicks Bounce off SupportJSE:CLS failed to make lower lows and bounced off the support level instead. It looks like we might be looking at a move upwards. All of the indicators in our Momentum Strategy have turned upwards indicating a long position.
Short on CLS if breaks out of channelAlthough it is trading in a channel, JSE:CLS is showing some downward momentum. It may very well bounce up off of the bottom of the channel, but if it breaks through, I will enter a short position. Beware of the 200SMA, though, that may act as a support level.
Ascending Triangle Breakout on CFRAn ascending triangle chart pattern has been forming on JSE:CFR since early Jan. It is currently breaking out of the top of the triangle. If it confirms, this could be a good sign for a long position.
ABSA showing some downward momentumJSE:ABG is showing some downward momentum based off of the stochastic and MACD turning downwards and now the 3 and 15 EMA's crossing downwards. I am looking at a short position to at least the 11250 support level.
EXX going shortJSE:EXX is showing signs of a potential short trade coming up. The first signs came with the stochastic and MACD crossing downwards, and it has been confirmed by the downward cross of the 3 and 15 EMA's.
I see it potentially moving down to around the 15000 support level, where it may retrace before potentially continuing downwards. Let's see what happens.
Keep watching for possible short positionAlthough not confirmed yet, JSE:RNI is looking like we could be in for a downward move sometime soon. The MACD and EMA's are yet to confirm to the move, but the price has broken through the 200SMA which could indicate a change of trend. Keep an eye on this for confirmation of a short position.
