2018 - Full of promise

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Derek  8 Jan 2018

Good Morning,

May 2018 be a blessed investment year for you! To help you with informed decisions, we are planning to launch a "Quick View Web" version of TradeFX early in the year.

Lets kick off by seeing where we stand currently.

Most of the indices made a sideways movement over the Xmas period to break resistance when the new year trading started. I show this for the DOW and notice where FrontRunner and the MACD broke up.

After Johnson Johnson made a double top against resistance, it corrected over the Xmas period and has now broken the trend line to make another attempt to break the top resistance.

JSE Technical:
Sadly the JSE did not follow the same pattern as the international markets. Banks are still correcting and it is only the Resources that are moving positively. The Steinhoff saga still has a negative influence on the JSE too. We hope to get more clarity on this matter towards the end of the month.

The Rand strengthened a lot and Anheuser-Bush corrected with the Rand strengthening. It has now broken the trend line with FrontRunner and MACD breaking up. The only negative is that the correction took it all the way into a negative TrendFactor. (3rd colour line below graph).

I show Anglo that is trending slowly towards top resistance. Notice the saucer formation and where MACD broke up.

You must have a great day.
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