USDZAR SHORTHelloooooo traders....USDZAR showing signs of a drop coming most probably during NY session. Keep a lookout for a reaction at price 16.3000 for a fall. Risk small....happy trading.
ZAR
ANH ShortDisregarding today's move, JSE:ANH is looking good for a short position. If it breaks through the 855 price level, I will enter short.
Short on SASOLJSE:SOL is showing all of the signs for a short position. EMAs, MACD and Stochastic have all crossed downwards. Looking for a move downwards towards the 302 level
USDZAR South African Rand - oops!!??It looks like the #USDZAR South African Rand will test R16.70 in the very near future.
If this happens, brace yourself for even a weaker Rand.
However, slide in Rand is also because of falling commodity prices.
This fall may be at a turning point right now with the dollar that might have reached a top which will boost commodity prices.
Thus, short term forcast for Rand to weaken to R16.70 levels.
Keep your eye on the DXY and commodity prices for better view on direction of Rand.
Short triggered on ExxaroA short has been triggered on JSE:EXX this morning slightly below our desired level as it gapped down with the opening. We are looking for a move down to the 176 level.
Growthpoint - downward momentumJSE:GRT is showing some great downward momentum and is ready for a short position.
Morning Star on NPHA morning star pattern has formed on JSE:NPH over the last few days. If triggered, this could mean a move to the upsode.
Bullish engulfing - IMPA large bullish engulfing candle has formed on JSE:IMP . This is a bottom reversal signal and I think we could see a nice upward move from here.
Vodacom heading downwardsJSE:VOD is showing signs for a downward move. I will enter short at the 153 level.
PROSUS - LongAs with JSE:NPN , JSE:PRX is also showing signs for a long position as per our momentum strategy.
NASPERS - Ready for a longAll three of our momentum indicators are signaling a long position on JSE:NPN . So if it continues up today, we will enter the trade.
Goldfields - Short on Momentum StrategyGFI is showing a potential down move based off of our momentum strategy. Although it happened a few days ago, the stochastic, MACD and the cross of the two EMAs are all triggers for a short position.
ABSA - Bearish EngulfingA Bearish Engulfing candle pattern has formed on ABG with yesterday's price move. We can consider a short position if the price continues downwards from here.
Capitec - Sideways Consolidation BreakoutJSE:CPI has been trading in a sideways consolidation area since Jan. With yesterday's price action it broke out of the top of the channel, which could mean a good opportunity to go long.
$USDZAR Daily - Dollar bulls still have the ball (for now)A chart that many South Africans will be watching with interest. The confirmed break of the inverse H&S in November set up a full target of 17.00. The pair quickly tested 16.30 before consolidating within an asymmetrical triangle. Consolidations are healthy, and will allow USD to gather some steam before next surge higher. However, currently, USDZAR is testing triple support, namely: H&S neckline, bottom triangle as well as 200 SMA. Should these support levels break, and we get a sustained move below 14.90 - this invalids the prior bullish USD patterns. Next support levels will come in at 14.40, 14.10 and 13.40 respectively. On the other hand, a break above 15.40 confirms the asymmetrical triangle targeting 16.30.
Downward momentum on AMSOur 3 momentum indicators have all crossed downwards on JSE:AMS signaling a good time to enter a short position. The target is at the strong support level at around the 160000 level.
Downward momentum on AGLAll three of our momentum indicators have crossed downwards on JSE:AGL . It is looking good for a short position. Target levels around the support area of late September 2021.
Hammer at SupportA hammer candle has formed on JSE:MNP at a strong support level that goes all the way back to 2015/2016. I think it's possible for a bounce off of this level and a nice upward move from here.
Piercing Line Pattern on SANLAMA piercing line candle pattern has formed on JSE:SLM . This is a good bottom reversal signal. If it plays out, we could be seeing a nice upward move from here. Target levels at the highs from mid-Feb.
Bearish Harami signaling a down move on FSRA Bearish Harami pattern formed on Friday on JSE:FSR . With today's move so far, we have been entered into a short position.
Bearish Engulfing on VODA bearish engulfing candle formed on JSE:VOD on Friday last week. We have entered a short position on this one with today's price action so far.
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