Profit taking ....

    All Channels      Market Reviews  

Derek  25 Jan 2018


All the Europe indices were negative yesterday. In the US there was some profit taking too, mostly in the NASDAQ that closed -0.6%. This negative sentiment is also to be seen in the East this morning.

I show the NASDAQ and notice that the trend line is not broken. Until it does get broken, we must see this as profit taking.

I must show the FSTE 100 too that broke decisively down 7 days ago. This is not profit taking, but rather big sell off.

Caterpillar did close below the EMA8 line, FrontRunner did break down and so did MACD.

JSE Technical:
After Steinhoff's PSG shares are now in strong hands, PSG took off like a rocket. No need to show it again as all resistances were smashed.

Bidvest smashed top resistance. So did quite a few other shares. Notice where FrontRunner and MACD broke up.

In the absence of something new exciting, I show Capitec again. It broke the trend line and FrontRunner wants to break its trend line, but not convincingly yet.

Enjoy your day.
Download TradeFX™

Copyright © 2017 {Zoclee}™. All rights reserved.