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Taking a bit of strain, but I still like it. Big buy divergence on the sto (weekly chart) which suggests some upside over the next few weeks.
Like other rand hedges it is just waiting for the rand to weaken, which I also think is coming soon.
Carefull, it just validated a dubble top at R2113. Could be forming a right shoulder looking at weekly chart.
Yes, know it's long term but some times it play out. USD/ZAR moved below long term support, would be interesting to see if it's a break.
That's the thing with right shoulders, they often gebreklik "deformed". As I see the inverse right shoulder would only be invalidated below R2032, if the d/top play out it could happen.
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