Trade Deal Optimism .... Gaps on JSE share graphs

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Derek  26 Sep 2019

Good Morning,

International:
Stocks close higher on China trade deal optimism, despite Trump impeachment bid.

Although the S&P500 closed positively, the high is still lower than the previous day's high and similarly for the low. The close was just below the EMA8 line. Notice that FrontRunner did not turn yet?



The graph of Berkshire Hathaway looks exactly like the index with a close just below the EMA8 line.



Walt Disney made a bounce on strong support. I marked all the levels that created the support. The share is also in oversold territory according to the HeatMaps.



JSE Technical:
The shares on the JSE are still in a steap correction phase. RMB Holdings even made a gap. Exhaustion gap? (We do not know yet)



Gold shares still moved positively, but Gold Fileds also did so with a gap. Notice the doji at the 50 day moving average. A close above the doji will make it a continuation gap and a close below the doji will make it an exhaustion gap.



Enjoy your day.
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