Mixed moves Internationally .... JSE Bounce

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Derek  30 Jul 2019

Good Morning,

The U.S. stocks edged lower as analyst raised post-earnings concerns for the next 12 month upside. Asian markets gain as Bank of Japan maintain steady guidance.

See how the S&P500 is hesitating at its current level with a small body candle.

I have been showing Colgate-Palmolive for a few weeks how it was moving between two resistance lines. It finally broke top resistance.

The question everyone is asking is whether Apple's results will fall short? It is still in a steady trend, but its results can quickly change this trend!

JSE Technichal:
After the big selloff in already oversold territory, we had a bounce on the JSE.

The Platinum Sector did the best and Impala Platinum smashed top resistance. Notice that we did not have a big selloff here, rather only a correction. I marked on the chart where FrontRunner broke up.

Although the Financial Sector made a nice bounce, we are not out of the woods. Notice how far this sector is below the EMA8 line and the trend line is not even threatened yet.

Enjoy your day.
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