FED rate cut on the cards .... Flag for Naspers

    All Channels      Market Reviews  

Derek  11 Jul 2019

Good Morning,

FED's Bullard expects a total of a half-point 'insurance' rate cut by year end, largely owed to trade jitters. This made the U.S. close positively and all the markets in the East are positive this morning.

The NASDAQ was the best gainer and broke top resistance.

The good news made the Hang Seng break its negative trend line and the EMA8 line.

Align Technology, also one of the strong trend shares, made a breakaway gap with a +4.08% gain. Notice how the 200 day moving average acted as support. I also marked on the chart where FrontRunner broke up.

After its massive gain, Coca-Cola is now struggling below a strong resistance line. I marked all the candles that make up the strong resistance.

JSE Technical:
Naspers created a beautiful flag that can be broken today?

We first had the false breaks in oversold territory against world markets that was followed by a very negative day. Support held and we had a positive day yesterday. Everything is in place for the JSE to follow world markets from a very oversold territory? I show FirstRand.

Another reminder that cyclic signals are not important when a share goes into a strong trend. Stay with trend lines then.

Enjoy your day.
Download TradeFX™

Copyright © 2017 {Zoclee}™. All rights reserved.