Some consolidation .... JSE making OWN moves

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Derek  4 Jun 2019

Good Morning,

Markets stay depressed as we are nearing the next support. Notice that the high, close and low of the S&P500 are all lower than the previous day. For a turn they need to be higher. No FrontRunner break either!

The DAX made an Engulfing Bull candle on the 200 day moving average and even tried to close the open window (previous gap).

Facebook was the next share to take an enormous dive all the way to the 200 day moving average.

Berkshire Hathaway is trying to consolidate on strong support. Will it hold? We are in oversold territory and quite a few shares are trying to make a bounce from this level.

JSE Technical:
The JSE is still busy doing its own moves and not following world markets. With the Rand still strengthening, it was the financials, gold and properties that are moving the strongest.

From the oversold position, FirstRand knew only one path forward.

A similar graph for Growthpoint Properties that even moved into a positive trend factor again.

Enjoy your day.
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