Profit taking still ....

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Derek  29 Aug 2017

Morning,

International:
Profit taking is still the order of the day world wide. Australia is all the way back to bottom support. The US had hardly any movement. I show the DAX and notice how it is building strong support to break the negative trend line .... just patience! It is also starting to move sideways in a narrow channel like Australia.



JSE Technical:
I do not know if you noticed that while markets are taking a breather, then property shares usually shines. Good moves were noticable in this sector. I show Hyprop that turned with divergence in place.



Redefine Properties broke its trend line and Frontrunner also broke its moving average.



Enjoy your day.

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