All Markets correcting .... New highs on the JSE

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Derek  13 Jun 2019

Good Morning,

This is my last market review before going on leave. The next market review will be DV on Monday 24 June.

International:
The ASX was the strongest market to date, but even that market, after making a new high with a small body candle and long leg to the top, started correcting. Some analysts say that this market is expensive!



I showed the doji of Apple yesterday. It made another doji to confirm the hesitation. Notice how the 50 day moving average (dark blue line) is acting as resistance!



After making a doji in overbought territory, Berkshire Hathaway started making negative red candles to break my trend line.



Lets show another one of my old favourites, Bank of America. The 200 day moving average (pink line) acted as resistance and my trend line is broken.



JSE Technical:
The volatile Rand is still making it very difficult to get stable trends on the JSE.

BHP Group had a strong trend and made a new high. It is in overbought territory against resistance. The volatile Rand will determine whether this resistance gets broken?



Clicks is another share that made a new high on the JSE. I marked on the chart where FrontRunner broke up.



During my absence the next 10 days, try TradeFX to see all. It is free for 30 days and you can download it by just pressing the download button below.

Enjoy your share hunting.
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