Trader-Dan

Trader-Dan

Price is firmly above the important moving averages and the recent inverted head and shoulders pattern shows a possible measured move towards swing high of R66 R50-53 will be the zone to defend by the bulls to keep the idea in play. An inverted head and shoulder pattern is a common chart pattern in technical analysis that signals an upcoming bullish trend after...

Trader-Dan

STXRES ETF has returned to a previous consolidation zone but is now lower then the March swing low and 200 wma . Does the R58.50 - R61.50 horizontal support zone hold for the 3rd time, or do we break lower this time? A break below targets R54 initially. Alternatively, we start seeing some bullish support for a possible reversal. I will be keeping this one on the...

Trader-Dan

Price has rebounded sharply off a low of R77.50 We now at the retrace zone of the major leg down. Bulls will need to push through R88.50 to keep the momentum going . R90 will also be an important level to watch intraday to see how the tape prints around there. NB High volume in last 30min of trading The 61.8% retracement level is a key Fibonacci...

Trader-Dan

After a waterfall drop in the stock, it seems to have eventually found some buyers as we look to close for a second day above the 20 day moving average. A possible falling wedge pattern may be in play . R8.50 is the next major level while bulls can hold onto R6.20 The falling wedge pattern is a chart pattern that can signal a bullish reversal after a...

Trader-Dan

Price has been well supported off the the 200dma and channel bottom and is reaching an area of interest. The recent cup and handle may bode well for the bulls to attempt a break out through R35-36 else a fade trade may result. The cup and handle pattern is a bullish continuation pattern that looks like a cup and handle where the cup is in the shape of a “U”...

Trader-Dan

GDX showing signs of green shoots. If it can break $30.60 we could see a relief rally back towards $35. RSI divergence + some bullish candle closes. A move below $27 negates the idea.

Trader-Dan

One of the platinum stocks that has been severely beaten down form the swing highs (-62%). Its currently working on its 3rd leg down and target zone remains R860-R790 failing which the gate to R626 opens. RSI is now in deep oversold territory. I will be watching closely to see how price action develops over the next few sessions. Traders use the Relative...

Trader-Dan

Price is flagging below the 20 day moving average and may breakout is possible with a successful break of R105. Another alternative is the pattern (symmetrical triangle) first breaks to the downside to create a bigger double bottom before finding enough buyers to go test R118-120 again. In trading, a symmetrical triangle is a chart pattern formed by connecting...

Trader-Dan

- The stock is in the process of pulling back after a major rally which saw a high of R326 - Next major level is R247 where a "possible" relief bounce may occur. This is the previous break high and corresponds with the 20ema on the weekly. - I still see the stock pulling back to R210 and possibly R170 over the longer term but as always, i will trade it level by level.

Trader-Dan

The USDZAR failed to reach the R18 level and instead reversed breaking through R18.28 and rallying all the way to the R18.72 level. It has since strengthened today and is now testing the 20 day moving average. It will be key to see how it reacts here as it could signal further weakness this week if it can't get back under it. The 20-day exponential moving...

Trader-Dan

As mentioned in the previous post Bitcoin rallied from the $24500-$25000 zone and has now returned to a previous resistance . Bulls will need to push through $30000 to keep the momentum going for a new leg up and risk fading from here. RSI = Overheated

Trader-Dan

The stock is battling here with the overhead resistance of the major downtrend and 200 day moving average. RSI turning down from overbought. Initiating a short here at R264-269 to target R250 initially. A daily close above R274 negates the idea.

Trader-Dan

Low can get lower while price remains under the 50wma. A bottom will come but no need to catch falling knives or bag hold for ages.

Trader-Dan

Tencent hitting some overhead supply this morning, RSI stretched, perhaps a rest to the moving averages... It will be important that bulls hold onto the 20/200 ema's for bulls to have a chance of breaking out of the main channel.

Trader-Dan

Since Bitcoin hit peak vwap level its had a nasty reversal is continuing lower . A short term relief rally may ensue here around $24500-$25000 failing which the gate to $23000 opens.

Trader-Dan

The DXY closed under the 20 ema yesterday after the FED release. Possible scenarios i will be watching: Price keeps stepping down to next possible support around $102.50 Reversal and flag breakout A move to the previous major support around $101

Trader-Dan

Naspers had a positive close yesterday with a bullish macd crossover Expecting a bullish short-term rally towards R3310 while support at R3080 is intact

Trader-Dan

MTN has had an astounding rally clocking up +36% from the swing low RSI is is deep overbought territory on the daily We have reached a resistance zone at R146. It will be important to see how price action develops here to see if the momentum can keep going for the bulls.