Every chart tells a story .... Do not get frustrated ....

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Derek  29 Jan 2018

Morning,

International:
Europe and US had strong moves on Friday and all US indices closed on new highs. This morning there are only marginal mixed moves in the East.

After winning the 7's rugby convincingly, the ASX of Australia turned on support and trend lines are broken. Notice where FrontRunner broke and it looks as if MACD might break today.



Every graph tells a story. Intel Corporation announced that they will have good results and that created a window (gap) in the chart. The price moved up to create the top resistance and as the news faded the price corrected twice to the support line created by the window. The final results were announced on Thursday after closing and then on Friday the price smashed top resistance with a +10.55% gain. Notice all the FrontRunner breaks!



JSE Technical:
I have no idea why all the banking shares corrected on Friday? Even Capitec fell back after its nice break, but that is how the market frustrates you.

The Rand is still very strong and affecting all the resources.
Newwave USD is an indication of the Rand $ currency. This graph is the other way round, down means the Rand strengthening.



All the resources charts look about the same. I show Exarro Resources that has corrected with the Rand to current support. No turn yet! But what I do want to show is how the trendfactor has corrected with this correction from strong trend (dark green) to medium trend (light green).



Enjoy your day and do not let the daily moves in markets frustrate you, rather look at medium term potentials.

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