Oil above $60 a barrel .... Moody’s Surprise

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Derek  1 Apr 2019

Good Morning,

International:
Oil pushed above $60 a barrel to drive a strong market. Some analysts are predicting a strong move in the U.S. market to come.

The S&P500 managed to climb above the strong resistance again. Notice the FrontRunner break and green MACD bars.



I showed last week how a share, after breaking resistance, often comes back to touch the break line again. Advance Micro Devices did exactly that with a J-curve.



Similarly for Abercrombie Fitch. Notice that this support was created by a window quite a few months ago.



Similarly for Microsoft.




JSE Technical:
Moody’s surprised everyone by not publishing a grading rating on Friday? This will be good for the Rand and financial shares. Some analists say that this creates uncertainty in the markets?

Standard Bank bounced on support in oversold territory.



Woolies bounced with divergence on support.



Enjoy your day.
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