May month comes to an end .... Double Bottoms

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Derek  28 May 2019

Good Morning,

Quite a few international markets were closed yesterday for a public holiday.

The markets in the East are positive this morning with the futures for the U.S. also positive,

Lets look at the Hang Seng as the U.S. were closed. It made a doji yesterday on support and then the positive move this morning. Notice the divergence.

The Nikkei also made a double bottom on support with divergence in place. Notice that the double bottom is not perfect, but one seldom gets perfect charts!

JSE Technical:
A similar double bottom for BHP Group on support with divergence. This divergence is confirmed! The graph of Anglo America looks the same.

Kumba Iron Ore is just continuing the positive move after the turn.

With the end of May here, it looks as if markets want to get rid of the negative sentiment.

You must enjoy your day.
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