SchalkLouw

SchalkLouw

There was an interesting break for #Gold yesterday, now only about $10/oz away from the $1870/oz resistance. A break and close above $1870 could very much see it test the $1900 levels. I still believe that the camel's back was broken in early January when the higher lows were confirmed in the uptrend that started at the end of September. This coincided with the...

SchalkLouw

Very explosive technical levels. Today, the break below the higher lows support line is a short-term worry for all AngloGold Ashanti shareholders. Should support hold around R196, could confirm a possible short-term bounce, with my focus point being the 200-day Moving Average (EMA) at R303. A break and close above these levels could again bring the R320 resistance...

SchalkLouw

I will be watching the 50-day Moving Average (EMA) closely at R163.20, with a break and close below these levels today most probably bringing back the higher lows support-line - my major short-term support at R160. Should support hold, will IMHO be my confirmation of a possible short-term bounce. With markets being ever-increasingly fearful, I would definitely...

SchalkLouw

USDZAR saw a big break above the ascending triangle's resistance this week, bringing R16.50/USD now up as a possible next target. It does however find itself in overbought territory. Should there be some ZAR strength (USD profit-taking) this coming week, I will monitor the top of the triangle and 8-day moving average (EMA) as confirmation (R15.46) of a possible...

SchalkLouw

After the recent break of the diagonal resistance line, which developed since August's highs, we now find Gold Fields (GFI's) in extreme overbought according to its 14-day RSI. There is a BIG BUT, however. GFI's 50-day moving average (EMA) is getting very close to breaking above the 200-day EMA...a Golden Cross. This could create further bullishness in the share...

SchalkLouw

The technical term of the day: Bearish Flag Pattern $DXY 1. Preceding downtrend (flag pole) 2. Upward sloping consolidation (bear flag) 3. Retracement 4. Top of flag or breakout below low of lower channel 5. Look for prices to break lower with length equal to size of flag pole

SchalkLouw Updated 

This can turn out to be quite an important support level. A break lower can most probably test R125 again, with a break below R125 not looking healthy for Gold Fields (GFI). We are getting mighty close to a Death Cross, which I will be monitoring very closely. GFI however do find itself in EXTREME OVERSOLD (with the Gold price itself) according to its 14-day...

SchalkLouw

Medium-term bullish trend still seems to be intact for the USDZAR, after its recent weaknesses (strength in the US Dollar). It currently finds itself back at the 50-day Moving Average (EMA), with a break and close below R14.07, bringing back the strong support level at R13.95. This is a strong support level, with a break lower, most probably bringing back R13.50...

SchalkLouw Updated 

Hudaco still remains one of my favourite small/ midcap share on the JSE. For our full summary on the company currently, click on the following link to read the full report (free): oldoak.co.za From a technical point of view, HDC recently broke its recent long-term bearish trend and found resistance at the top of the short-term channel. It also found itself in...

SchalkLouw

#Gold (GLD) busy forming an inverse head and shoulders pattern. GLD also finds itself in EXTREME OVERSOLD according to its 14-day RSI. A recovery in GLD could target $178. Little bit worried about negative momentum, but will monitor closely.

SchalkLouw

Precious metals (PM) have really struggled this week, with the following weekly movement in USD: Gold TVC:GOLD -5.65% Silver TVC:SILVER -7.17% Platinum TVC:PLATINUM -7.2% Palladium TVC:PALLADIUM -8.23% All these PM’s seems to be heavily oversold over the shorter-term, which could see a bit of a recovery over the next week or two. Why is this important?...

SchalkLouw

This little break on the support could be negative over shorter-term for #Gold. Should we see close below $1875 today, could see Gold test 50-day Moving Average (EMA) at $1841, with break & close below this bringing back 200d EMA at $1811. Medium-term target still remains $1960.

SchalkLouw

Big break on the USDZAR’s long-term support level. Although the ZAR finds itself in heavily overbought territory according to its 14-week RSI, this break could see the USDZAR testing the R13.20 level over the shorter term. I do think there might be some interim profit-taking and still believe my R13.85 level to remain key. Should the R13.20/USD support level be...

SchalkLouw

Massive break in the Gold price. Let's see if it sticks this time around.

SchalkLouw

Very interesting level for the USDZAR . It finds itself currently in extreme oversold (overbought if you monitor the ZARUSD ) which could see some interim profit taking soon. This week we saw a break of the very important medium-term resistance-line, which now brings my longer-term target of R13.85 up as possible, “next-stop”. This is also very much in reach with...

SchalkLouw

Very interesting level for MTN currently. I see in the media that JPMorgan last week upgraded the company, with a target price of R110. It has now reached its short-term resistance level and with the 14-day RSI trading at EXTREME OVERBOUGHT levels, could see some interim profit-taking. The momentum however is strong and with the fundamentals improving, do concur...

SchalkLouw

Big break yesterday on the medium-term support line and although the share price finds itself in somewhat OVERSOLD according to the 14-day RSI, I would be staying clear for now over the shorter-term. The next support level is the 200-day Moving Average (EMA) at R103.11. If I was a short-term trader (which I’m not), last mentioned will also act as my stop-loss...

SchalkLouw

Big break yesterday on the medium-term support line and although the share price finds itself in somewhat OVERSOLD according to the 14-day RSI, I would be staying clear for now over the shorter-term. The next support level is the 200-day Moving Average (EMA) at R11.57, with a break and close below this level bringing back the R11.20 level as support. If I was a...