Posting because at the moment, being South African, one of my favourites technically. Given the sad current bad state of affairs with corruption within South Africa, being recently Grey listed, the current almost collapse of Energy (Electricity) with Eskom in almost collapse whereby the country is facing daily energy cuts of up to 6-8 hours a day. How will this Gartley play out? Supposedly a Bearish Garltley. Realistically, looking at a bounce at the 0.5 fib. And noticably the Trend line to the upside has not yet to be broken.
Comment
⋅
Still in trend to the upside. Gartley respected thus far!
An interesting chart. By the look of this chart are you suggesting that Rand is more likely to get stronger over the coming months. I mean that elections due in May next year and the market might start looking ahead to a positive political result - IE ANC loses majority and and a coalition with a more sensible approach - like the DA. Alternatively Sterling underperforms significantly for some reason