JSE:RMH formed a symmetrical triangle pattern which it broke out of and closed with yesterday's move. Chances are, it will continue to move upwards after the breakout. If it confirms above the fractal level, I will enter long.
JSE:SLM has reached quite a strong resistance zone at around the 8200 level. It seems to be struggling to break through which is also being confirmed by the stochastic. I will enter short if it is confirmed.
JSE:MRP has been consolidating in a sideways trend or "buy-box" since late last month. With today's price movement so far, it has broken out of the box as well as a fractal level from the 17th of October. If it closes above and confirms after today, I will look at entering a long position.
JSE:MCG has formed a descending triangle candle pattern. The candles are wedging into the corner of the triangle and will be breaking out soon. If it breaks out the bottom, this will confirm the signal for a short position.
The pair price has broken the bearish flag with a continued downward tendency. We expect the price to resume its fall as low as 14.70 as long as it persists below the 61.8 Fibonacci.
JSE:BVT is struggling at a strong resistance level and based on the stochastic's confirmation, we could be seeing a reversal. Wait for confirmation on today's price action before entering short.
JSE:APN has reached quite a significant resistance level which could mean a change in direction to the downside. I will keep an eye on this one to see if it breaks through the resistance and continues upwards. If so, I will enter long. My outlook is bearish, however, and I anticipate that it will fail to break through and turn downwards for a short. As always, I...
JSE:RDF has formed a double bottom support level and it could mean a slight move upwards.
USD showing strength Downtrend entry 14.85 tp 14.55
As per my previous idea on the Zar Euro chart, the pattern has not been invalidated as yet but wave 4 did go higher than expected. I do however see a breakdown from here and complete the final leg down
Weekly pullback traded in the 4 hour chart against the long term downtrend
JSE:ABG is trading around a strong support level where it has struggled at before. The stochastic is confirming by turning up, so I will consider entering a long once it breaks through the fractal level of the 8th.
JSE:BID formed a bearish harami pattern with yesterday's movement. This could mean a downward move. I will wait for confirmation, as the upward momentum has been quite strong lately.
JSE:OMU has formed a flag shape which is a bullish pattern and it has broken out and will most likely continue upwards. I will, however, wait for further confirmation before jumping in.
JSE:WHL has bounced off of the bottom of the channel that it has been trading in for quite a while. We can expect a possible upswing toward the top of channel. Failing that, it might stall around the mid point.
A bullish engulfing candle pattern formed on JSE:APN friday at a support level. This could mean an upswing is imminent. The stochastic has also recently made an upswing.
JSE:MTN has failed to break through a strong support level and seems to be bouncing for an upward move. The stochastic is also in oversold territory which further signals a possible reversal.