Small mixed movements .... Break down against resistance....

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Derek  14 Nov 2017

Morning,

International:
Small mixed movements in the East and in Europe yesterday. Caution is the correct word.

I must show the FTSE again. You will recall when I mentioned that we are against resistance. I show where FrontRunner and the MACD broke down. When you get a break down of indicators against resistance .... I am out! Notice that the FTSE has not found support yet, since the break down.



After a massive ABC correction, Tesla broke the downward trendline and is busy closing the open window (gap) it made. Tesla is still way overvalued, compared to General Motors, but are investors seeing the future potential?



JSE Technical:
Rand Merchant Investors Holdings (RMI) bounced on support and also broke the downward trend line.



With the Rand weakening further, Anheuser-Busch bounced on support.



Remember to draw those resistance lines!
Enjoy your day

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