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14-02-2017 10:04 AM
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.
14-02-2017 10:10 AM
Like other rand hedges it is just waiting for the rand to weaken, which I also think is coming soon.
14-02-2017 01:05 PM
Carefull, it just validated a dubble top at R2113. Could be forming a right shoulder looking at weekly chart.
14-02-2017 01:23 PM
14-02-2017 02:28 PM
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.
14-02-2017 02:37 PM
14-02-2017 03:03 PM
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.