Nice range trading opportunity for support and resistance enthusiasts. Buy close to 120 support, sell/short close to 140.
Previous resistance so far providing good support on exxaro. I'm calling it 200/210 in the short-medium term.
H&S pattern working out as expected; broke neckline support, came for a retest, rejected at previous support (now resistance), and the move lower continues!
Gold is flagging on the daily. Should the bear flag break lower, target could be 1700.
Technical H&S on the daily, that could target 1.33. But make no mistake, until the 200dma gives in, the trend is still up!
1.85 resistance taken out, could target 1.90; and probably 1.95.
H&S confirmed with today's close below neckline support. But with RSI approaching oversold territory, I would wait for a potential retest of (previous) support as resistance before pulling the trigger; Its not 'advisable' to 'short' an oversold market.
Price up against the 100dma which is known as the 'buy the dip/short the bounce' level. Can it (100dma) play that 'short the bounce' role again this time, like it has done on 4 occasions during the past year? For as long as the trend is down, I'm bearish on the pair.
Price attempting to break out of what looks like a bull flag structure; which break could take price to the 133-135 resistance area, an area buyers have failed to clear in the last 3 years!
Price approaching 120 support. With RSI in oversold territory, could we get a bounce from here? I reckon so, though a lot depends on (spot) Gold prices.
Bull flag confirmed on the daily chart; measured target is around 1.1150-1.1200
Broke out, came for a retest, and now the rally continues. Should target 65-70 in the short term.
H&S finally playing out after the choppy price action that followed after the initial neckline break (when I spotted and published the set up). Price moving towards the 165 TP area.
Issues to do with their complex shareholding structure (which top SA asset managers has teamed up against) aside; technically it Looks like a Head & Shoulder technical pattern is forming on the Naspers daily chart. If confirmed, it points to 2,200.