Bulls slowly getting upper hand .... Strong supports

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Derek  10 Apr 2018


The uncertainty on markets created in the US is just unbelievable. Now the FBI made a raid on Trump lawyer's office. Markets do not like these uncertainties and strong gains were negated by this latest move in the US, but the Bulls are slowly getting the upper hand.

The East is all positive this morning.

I show how the US early gains were negated by the FBI's raid.

You can also see this uncertainty on the graph of Netflix. This is one of the strong trend shares in the US. Notice the 3 doji's in a row created by uncertainties.

JSE Technical:
I showed the strong supports in the US yesterday. Look at the strong support of Anglo. Everyone is just waiting for uncertainty to go away. Trend line was broken, but share is still consolidating just above support.

Similar situation for Shoprite , Standard Bank and many more .... Notice the doji of Standard Bank against the red trend line. Trend lines for these two shares are not broken yet.

We are not in selling territory, but rather hold and buy.
Enjoy your day.
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