Fundamentals would have us believe that this level should be pivotal.
The indicators have not yet swung, although the RSI has thrown a buy signal.
We would be looking to go long on the reversal confirmation, and ride the weakening rand back up to recent highs.
Targets starting at 18.50
ADX favoring a break below 16.50 support.
Next key level is a 15.50, although the fundamentals do not support this move.
The indicators have not yet swung, although the RSI has thrown a buy signal.
We would be looking to go long on the reversal confirmation, and ride the weakening rand back up to recent highs.
Targets starting at 18.50
ADX favoring a break below 16.50 support.
Next key level is a 15.50, although the fundamentals do not support this move.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.