SchalkLouw

SchalkLouw

After recent Rand weakness, it was great to see some positivity in ZAR this week. Yes, I know that the weakness was due to some USD recovery and the weakness was in line with other Emerging Market currencies. BRICS currency/USD movements for this week: Brazil +0.3% Russia +1.3% India +0.1% China +0.3% South Africa +1.4% Euro /USD +0.5% Technically, the ZAR...

SchalkLouw Updated 

Very interesting level on Gold Fields ( GFI ). Not only is it trading close to its all-time high levels, made back in 2006 (yes, exactly 14 years ago), but a break and close above the Ascending Triangle (R159.50) could very much put GFI in uncharted territory. A profit target can be estimated based on the height of the triangle added or subtracted from the...

SchalkLouw Updated 

Very interesting level on Gold Fields (GFI). Not only is it trading close to its all-time high levels, made back in 2006 (yes, exactly 14 years ago), but a break and close above the Ascending Triangle (R159.50) could very much put GFI in uncharted territory. A profit target can be estimated based on the height of the triangle added or subtracted from the breakout...

SchalkLouw

Very interesting level on the USDZAR. For the first time since January 2020, the ZAR is trading very close to its 200-day Exponential Moving Average. This has historically been one of the USDZAR’s support levels. Should we see a break and close below R16.43/USD could very much see create some clear sky/free-fall, with next support only coming in at R15.50 (bottom...

SchalkLouw

Interesting graph on the FTSE/JSE All Share (ALSI). It is as if COVID-19 never happened. Not only are we close to break back into the trendline which started at the beginning of 2019, but we also saw the Golden Cross occurring this week. According to Investopedia.com, “the golden cross is a candlestick pattern that is a bullish signal in which a relatively...

SchalkLouw

This has been the third week in a row where the Rand (ZAR) outperformed both the USD and all other BRIC currencies. Over the shorter-term period, while commodity prices (Gold, Platinum, Palladium, etc) are running, I would not be shorting the ZAR now, as this is still very good for the South African economy. BRICS currency/USD movements for this week: Brazil...

SchalkLouw

Despite having a bit of a rocky start to the week, the Rand (ZAR) again enjoyed a pretty positive week. The movement was in line with most BRIC currencies and in line with USD weakness. BRICS currency/USD movements for this week: Brazil +3.2% Russia -2.2% India +1.3% China +0.2% South Africa +1.2% Euro /USD +0.3% Technically, the ZAR remained within the...

SchalkLouw

Stable week for the Rand (ZAR). Movement was somewhat better than most BRIC currencies and in line with USD weakness. BRICS currency/USD movements for this week: Brazil -3.2% Russia -0.5% India +0.8% China -0.1% South Africa +0.6% Euro /USD +0.4% Technically, the ZAR remained within the parallel channel, with the top resistance level being tested every day...

SchalkLouw

Tough week for the Rand (ZAR). Movement was however in line with most BRIC currencies and mainly due to USD strength. BRICS currency/USD movements for this week: Brazil -4.9% Russia +0.9% India -0.3% China +0.2% South Africa -1.6% Euro /USD -0.7% Technically, the ZAR remained within the parallel channel, with the top resistance level being tested twice in the...

SchalkLouw Updated 

With a break and close above 625cps yesterday, Standard Bank WTI Oil ETN (SBAOIL) moved back into its trading range for March and April, with the 8-day Exponential Moving Average (EMA) getting mighty close to break above its 21-day EMA. A break could be very positive for the short-term share price, with the Momentum clearly also picking up. Should we see a...

SchalkLouw

Will be monitoring the R17.50/USD on the Rand very closely. A break and close out of the parallel channel (above R17.65), could very much see the ZAR back at R18.30 - R18.35. All the EMA's are now pointing north, which got me worried about the short-term trend for now. I still believe that the ZAR could improve from its current levels, but will wait for...

SchalkLouw

What a week it has been for the Rand (ZAR) – another 4% improvement against the USD. Movement was in line with most BRIC currencies and mainly due to USD weakness. BRICS currency/USD movements for this week: Brazil +7.6% Russia +2.1% India +0.1% China +0.8% South Africa +4.0% Euro /USD +1.7% Technically, this week’s break and close of the parallel...

SchalkLouw Updated 

After the rapid decline between middle February and middle March this year, Impala (IMP) more than doubled from its lows. The next movement for IMP will be significant, and it will determine the direction of the break out of the Descending Triangle. The share price has recently found strong support from its 21-day Exponential Moving Average (EMA), with primary...

SchalkLouw

Technically, the ZAR is at a very important support level, with a break and close below its 50-day Exponential Moving Average (EMA) & Descending Triangle (at R17.92/USD), could see the ZAR only seeking support at its 200-day EMA (at R16.10). We also saw a nice little break of the 8-day EMA below the 21-day, which is definitely looking interesting over the...

SchalkLouw

After President Ramaphosa announced on Thursday (23 April) that South Africa will be changing its lockdown status from level 5 to level 4, it was the clothing retailers that was hit the hardest. Main reason for this was because the initial draft for Level 4 lockdown did not permit the sale of any clothing yet. This saw most of the clothing retailers having a...

SchalkLouw

More of the same for the Rand this week, still losing some ground against the USD. This week however mostly because of USD strength and not due to Rand weakness. Also, very much in line with most BRIC currencies. BRICS currency/USD movements for this week: Brazil -6.3% Russia -0.7% India +0.4% China -0.1% South Africa -1.2% Euro /USD -0.5%...

SchalkLouw Updated 

Still remain one of my favorite shares currently on the JSE and has been good to me lately. Disclaimer time - I'm already long. Would however recommend (for those who investors who's currently considering a long position) to wait a bit for some consolidation. Technically the share price found a strong resistance level yesterday (R127 - R128) and could take a...

SchalkLouw

I’ve got good news and bad news on the Rand this week. Let’s start off with the bad. After being the best performing BRICS currency last week, it fell back this week and ended up being the worst performing BRICS currency this week. The good news was that this was mainly due to the surprise repo interest rate cut of 1% earlier this week (14 April). BRICS...