Inverted H&S forming on Mondi PLCJSE:MNP is in the process of forming an inverted head and shoulders pattern on the day chart.
We could see a longer term upward move if the price breaks through the neckline at around the 33100 level. This might take a few days before it breaks this level, so I am just keeping an eye on it for now.
ZAR
Possible Trend Reversal on ProsusJSE:PRX formed a bearish harami on Thursday last week which is a top reversal signal.
This was confirmed by the break through the upward trendline and the stochastic.
This could mean a move downward for a while if confirmed by breaking below the low of last Wednesday.
ZARJPY Bumb and RetestThese exotic FX pairs are more tricky to trade, but there is a potential nice setup here in the making. It has made a huge drop past 2 months for FA reasons, but there is a chance we might see a bigger consolidation or correction up this time. There was strong move up 2 weeks ago but came back down all the way again, but in a much slower pace though, which could be a sign. Now ideally we see it test that curved shape on the right a bit more coming days, but it is very important to see the green zone hold. If that breaks, anything is possible.
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USDZAR approaching support, potential bounce | 29 April 2020Price is approaching our first support level in line with our 61.8% retracement and horizontal pullback support where we could see a bounce to our first resistance level , in line with our 38.2% fibonacci retracement . The video analysis is linked below as well, so do check that out and leave a comment on ideas you would like to see next!
USDZAR approaching support, potential bounce | 29 April 2020Price is approaching our first support level in line with our 61.8% retracement and horizontal pullback support where we could see a bounce to our first resistance level, in line with our 38.2% fibonacci retracement. The written version is linked below as well, so do check that out and leave a comment on ideas you would like to see next!
USDZAR technically based forecast
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💡 USDZAR technicaly based idea, we can see price is bounce from supp line - trend line, two tops are created, technicaly indicators showing we can expect trend revers from this position.
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