EMA8 line as trend line .... FrontRunner prediction

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Derek  22 May 2018


The US made a positive move after the tensions eased about the Trade-War. Only the HangSeng is positive this morning with the other indices correcting.

I show the S&P500 and marked how the EMA8 (Exponensial 8 day moving average) (orange line) line was touched 3 times duting the last 5 days. In the absence of any trend lines drawn, this line can be used as a trend line.

The ASX of Australia touched resistance and then started correcting. Notice where FrontRunner and MACD broke down. (Marked on chart)

I mentioned before the prediction ability of FrontRunner. When it breaks above the top 3 red lines, it predicts that a new high will be reached. Boeing did so yesterday and I marked where it happened in the past.

JSE Technical:
Politics is not helping the JSE and taking land without compensation is just keeping investors away. Only a handfull of resourses are making new highs while the rest of the JSE is just correcting.

One of the shares just running away is Billiton. Notice the EMA8 line as trend line. Remember that all cyclic signals must be ignored when share is in a trend.

Banks have corrected to second support now with a abc correction. Standard Bank is still below the EMA8 line and in oversold territory.

You must have a great day.
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