Adjusted support lines

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Derek  22 Mar 2018


The international markets are hesitating at current levels. I had to adjust my bottom support for the DOW to ignore the bottom of one long leg. I show the DOW and ASX that are inside the triangles. Notice that the Heatmaps are slowly turning green.

Most shares are struggling against resistance or correcting. Tencent and Bank of America are two shares that is struggling against resistance. I show Apple that is in a strong correcting phase. I marked the divergence when the correcting started. Notice also the Engulfing Bear candle at the top and then the trend line was broken.

JSE Technical:
The JSE really surprised me on Tuesday to go against the International trend.

Bivest made an Engulfing bull after the doji on support to bounce off support. No trend lines broken yet.

Shoprite bounced on support, broke trend line, FrontRunner broke up and HeatMaps were in green territory.

We have to wait and see what Moody's decide on our down grading tomorrow.

Enjoy your day.
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