Uncertainty before Weekend .... Rand takes a hammering

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Derek  20 May 2019

Good Morning,

Investors are now cautious of weekend tweets and rather sit on the sideline. China markets retreat this morning on rising trade tensions with the U.S.

A long upper legged doji confirms the uncertainty for the S&P500 before the weekend.

Quite a few shares are against top resistance with divergence. Copart is one of them. Notice how FrontRunner first predicted that a new high was still to come and now we get divergence against resistance.

American Express is also stalling against resistance with divergence in place.

JSE Technical:
The Rand weakened substantially to benefit resources and send financials tumbling.

This helped Anglo America to break the trend and EMA8 lines. Notice the divergence at turn.

The Financial Sector is in a negative trend currently due to the Rand weakening.

Another reminder that you can click on any blue coloured technical word in this review to watch a YouTube video for an explanation. As an example, click on: doji.

Enjoy your day.
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