Coronation Fund Managers WEEKLY is down on its WEEKLY support. Support seems to be holding but we will have to wait for the week to finish. We also need the overhead DOWN trend resistance to break before we think about taking a position, we continue to monitor
USD/ZAR HOURLY is trading in a TRIANGLE. a TRIANGLE such as this is usually a continuation pattern, the trend being down so a break to the bottom would be most probable but it is looking very close to breaking to the upside. We sit on our hands till we have a break
False breaks both up and down on the DAILY in the GOLD USD price, alot of long wicks in both directions showing uncertainty. With the GLOBAL ENVIRONMENT of trade wars and impeachments and real wars. GOLD could just as easily go up as down. The range for now is between USD1505 and USD1485
Old Mutual has been trading in this range for more than a month now. The HOURLY stochastic is heading south and nearly in an oversold position. Will the price bounce from here or will it go to test the bottom of the range?
MTN has formed a HAMMER candle on support on the WEEKLY. A HAMMER is typically a BULLISH candle when it occurs in a down trend and can signal a trend reversal. If the share price does reverse, the next resistance is around R110.
Multichoice Horizontal Resistance and Support lines on the DAILY. Seems the share is struggling to break through the current RESISTANCE around R122.50 In the last three sessions it has broken this level but ended below it.
Anglo American has found support on its long term up trend line(pink line), this trend line has been in place since Jan 2016, in August this year it was broken but fairly quickly recovered. There is also horizontal support in this area (blue line). If it breaks the next support comes in around R306 We wait to see what today brings after last nights US sell off.
Mr Price has formed a short term DAILY range off of the Strong WEEKLY support around R152. MRP has tested the top of the range and then come back to test the bottom. It may now test the top again. The resistance around R175 will be a hard nut to crack!
Vodacom DAILY has come down from resistance and is now just about on WEEKLY support. The 200 day SMA is also around this area(Brown line) which may also help provide support. Can VOD hold here and rally? We watch for confirmation