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Davids

Flash note: USDZARUnum flash note on the USDZAR from our Trading Desk analyst, Lester Davids. Chart 1: USDZAR: We currently trade just below the R14.25 resistance, with the Rand having gained on a weaker USD. The monthly chart shows this to be the top of the bull flag/channel. Chart 2: Another view (again the monthly chart), shows the potential start of a "right shoulder" of a long term inverse H&S formation. support and resistance levels from the bank analysts (Investec) this morning confirm these ranges (R1 14.2430, S1 14.15)
by MarkWeetman
iShares Emerging Markets (EEM) - Great Opportunity To Buy hereMorning all, Our Unum Capital Trading Desk analyst @Lester_Davids published a flash note on EM AMEX:EEM this morning: "Following a stellar two-year run, emerging markets (EM) have been under significant pressure with the selling pressure commencing in January 2018. The reason? The surge in the US Dollar (high interest rates) as well as political fallout has seen a rush for the emerging market exit door. Now, with US interest rates on a short to medium term decline and the US Dollar experiencing some selling pressure, Emerging Market assets could be poised for a turnaround. The weekly chart setup show a potential double bottom around $42.15 - attractive level to accumulate via the ETF. " Our Unum clients will recall my idea published on 29 Jan. Emerging Markets: Is The Party Over? EM has under-performed massively YTD - so this has worked very well if you took my trade. As previously suggested, if we lift our time frames / time horizons we could do even on the % return front. Original Chart - 29 Jan Updated Chart - 23 Aug
AMEX:SPYLong
by MarkWeetman