Golden Cross for Hang Seng .... Resistances Broken

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Derek  19 Mar 2019

Good Morning,

International:
We remain in Bull territory with many resistances broken and indices above the 200 day moving average. Asian markets are hesitating this morning ahead of the upcoming FED meeting. U.S. analysts are not worried about this.

The Hang Seng broke top resistance yesterday and also made the Golden Cross 5 days ago. This happens when the 50 day moving average crosses the 200 day average.



The S&P500 is now 2 days above the strong resistance. Notice that the Golden Cross is still in the making for the S&P500.



Bank of America broke top resistance and is just about to make a Golden Cross.



JPMorgan Chase broke its resistance too and closed just below the 200 day moving average.



JSE Technical:
Anglo American Platinum broke top resistance and is continuing with its strong trend.



Exxaro hesitated at resistance, but smashed it yesterday.



Although the Golden Cross is not important to me, as it lags too much, it is important for institutions. They prefer to invest in shares where the 50 day average is above the 200 day average.

Enjoy your day.
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