Markets are taking a breather

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Derek  31 Oct 2017

Morning,

International:
The US took a breather in anticipation of important data later this week. The East is following with all the indices negative.

Australia, like the FTSE, is struggling against resistance. Notice that the MACD has broken down.



Micron Technology, one of my favourites, has also gone into a sideways consolidation after a very strong move.



JSE Technical:
After British American Tobacco made a doji against resistance, it started correcting.



After Capitec Bank broke resistance, it came back to touch the break line before moving strong again. We see this pattern happening over and over .... I mentioned before that if a resistance gets broken, you can wait for it to come and touch it again.



Enjoy your day.
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