Profit taking in most markets

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Derek  23 Nov 2017


There was profit taking in most markets yesterday. In some more than others.

You will remember what I told a few days ago about the length of candle legs. Lets show the FTSE and notice the long leg .... uncertainty about the way forward.

Tencent also took a breather, but not as much as Naspers.

JSE Technical:
While there was profit taking, some shops and banks still steamed ahead. I show Shoprite and notice that it is nearing top resistance in overbought territory.

I am not a big fan of mines, but lets show Anglo American Platinum. Notice that it is on support in oversold territory.

You must have a great day.
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