First signs of .... Trend lines .... Cryptocurrencies

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Derek  12 Feb 2018

Morning,

International:
I am starting to see the first signs of some stabilization in world markets. The East is still mixed this morning.

I show the S&P500 and notice how the last candle touched the 200 day moving average. The 200 day moving average is also seen as a support line. What I wanted to show more is how my trend lines are drawn. Not necessary from the last top. I have two trendlines shown, one from the last top that is a much longer term line and then the last trend line that touches most tops. Frontrunner did not break yet .... but can today ....



I show the same trend lines for Tencent! Here Frontrunner did start breaking upwards and the first trend line is broken. Do you see the divergence of FrontRunner?



JSE Technical:
The JSE was still following world markets lower, but the graphs look much the same as the S&P500. There is a long list to keep an eye on:
AGL, BIL, KIO, BAW, REM, BVT, DCP, NPN, SHP, SBK, RMH & DSY

Lets show Anglo. If you do not look at the name, it looks exactly like the S&P500. Long leg doji that almost touched the 200 day moving average too and the trend lines are identically.



Because I showed Tencent, I will not show Naspers, but it made 3 doji's in 3 days indicating uncertainty about the current correction phase.

Remgro closed just below the 200 day moving average on support. Notice the trend lines .... exactly the the same as the other graphs! See the divergence of FrontRunner.



Cryptocurrencies:
While everyone was holding their breath about the correction in markets, the Cryptocurrencies, that had also corrected to the 200 day moving average, started to lift their heads. I show Ripple that has already broken the EMA8 line too.
REMEMBER, these are high risk investments! 80% gamble and 20% investment.



I started fastening my safety belt for a lift off? Might we also see the departure of Zuma? Time will tell.

Enjoy your day.
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