Bidvest tried to push above the previous resistance at R175 but failed on lower volume. This indicates an upthrust (UT) after distribution and opens the path for the markdown in Phase D to start. We are now looking for a break below the bottom of the trading range at R130 to open the path for a markdown in Phase E to even lower prices.
Evening Traders, Today’s Analysis – EURAUD- impulse close above Local S/R, a bullish retest is probable, Points to consider, - Price Action Impulsive - Local S/R Support (200 MA Confluence) - Structural S/R Resistance - RSI Bullish Control Zone - Increasing Volume EURAUD’s immediate price action is impulsive above Local S/R, holding these regions allow...
SPX is showing delta volume divergence and we might see retracemeant to VPOC, if VPOC is broken we will reach T2 (Previous swing high)
BNF is showing strong buy volume and looks to be in strong bullish trend
Evening Traders, Today’s analysis – DOTBTC- trading above local, maintain these regions is bullish in the immediate terms, Points to consider, - Price Action Bullish - Local S/R Support (.382 Fibonacci Confluence) - Daily S/R Target - Declining Volume - RSI Bullish Control DOTBTC’s immediate price action is being accepted above Local S/R, this allows us...
Evening Traders, Today’s analysis – ALGOUSDT- impulse break above Local S/R, holding these levels are deemed bullish. Points to consider, - Price action impulse - Local S/R Support(200 MA Confluence) - Daily S/R Resistance - Volume Influx ALGOUSDT’s immediate Price Action is impulsive, allowing us to have a bullish bias in the immediate short term, The...
Blue Label Telecoms has been having a torrid time of it but we may have turned the corner and ready for a markup. BLU has been ranging from September 2019 but now there are signs of strength (SOS). After breaking above the yearly pivot point divergence in the volume RSI and increase in volume on the way up. The Relative Strength has also turned and is stronger...
Evening Traders, Today’s Analysis – GBPUSD- breaking Local S/R with an impulse, test of Bullish OB is probable, Points to consider, - Price Action Impulsive - Bullish OB Support - POC Support - Local S/R Resistance - RSI Bearish Control Zone - Volume Declining GBPUSD’s immediate price action is trading below key Local S/R, failure of a reclaim will...
Hyprop has had a torrid time and dropped to below the 1500 level. After forming a base there are volume signs of strength (SOS) with higher highs forming Last Points of Support (LPS) with volume increasing when pushing higher en decreasing on pullbacks. The Relative Strength has turned the corner and there is divergence on the volume RSI. After breaking the 200SMA...
After the selling climax in March, we have potentially seen an accumulation trading range that is ready to break and start the markup. Price is wedged between the 50 and 200SMA and contracting. There is a negative divergence in the Volume RSI. The Relative Strength to the Top40 is showing an increase and is above the 55SMA. There is volume in the up moves and...
Evening Traders, Today’s analysis – BURGERBNB – Trading above Local S/R, price has been accepted with further upside potential. Points to consider, - Price Action Impulsive - Local S/R Support (21MA Confluence) - Swing High - RSI Bullish Control Zone BurgerBNB’s Immediate price action is trading above Local S/R in confluence with the 21 MA. This allows us...
Noticed a resistance forming during Asian session waited for a bounce off Vwap to enter trade
Nedbank is breaking out potentially to correct back to 22000 to 24000 after the Corona Crash. There is some volume in the up moves that is gaining momentum. If you are patient enough you can wait for a pullback to the breakout level but if you have some FOMO this could be a time to get on the train just know you may have to sweat the pullback.
Following Aspen move to the overbought line in a downward trend, we have now seen a backup (BU) and a markup seems to have started that could take us to R200 and a test of the overbought line. We have been following this move up for some time.
Signs of reversal on oversold market Same trading tactics.
Mr Price has had some volume at the end of last week but was unable to make any progress to break above 15000. A clear reversal bar this week could takes back down to test 10000.
Dis-Chem has some effort (Buying volume, negative divergence on the Volume RSI) to get back above 2100. However, the price has been unable to break back to higher levels. A rejection of 2100 on volume points to lower levels and a possible retest of 1600 and could possibly even break this.
Evening Traders, Today’s Analysis – AUDUSD – price action impulse above local S/R where a back test is probable to confirm support. Points to consider, - Price Action Impulse - Local S/R Support (.382 and 200 MA) - Daily S/R Resistance - Oscillators extended - Volume Increasing AUDUSD’s immediate price action is bullish above Local S/R, this allows us to...