A strong Bullish Engulfing candle could lead to further weakening of the ZAR.
Looks like an Ascending Triangle is being formed which could mean further weakening of the ZAR.
A Bullish Flag breakout has taken place on the Daily Chart.
Platinum has broken out of the downward channel ,if this upward momentum can be sustained the next resistance level is at 1292$
Ukraine - Russia war will have a huge impact on Platinum price.
APN is currently at a critical juncture ,the 200ema is acting as a support (must remain that way to be positive).
A falling wedge is also visible
Volumes are High and a breakout above the top pink line could take APN back up to 25000.
Earning are due to be published shortly too.
SOL is currently on an upward trajectory supported by the Higher Oil price.
It has reached the first target at 35900 and could be heading towards the second target of 47900
If Russia invades the Ukraine( which looks increasingly inevitable) Oil price could move significantly higher which would support SOL .
SOL is going through a short period of consolidation.
It is still keeping above the pink trendline and looks to be moving up to the orange line which is potentially the neckline of an INVERSE HEAD AND SHOULDERS formation from July 2019.Should it breakout above the orange line it could be heading towards the black horizontal line.
SOL however needs to remain...
BLU has broken out above the blue and green lines and could potentially be heading towards the orange line at 610c
The Orange line could also potentially be the neckline of an INVERSE HEAD AND SHOULDERS Formation that extends back to Sept 2018.
BLU is also staying above the 200EMA which is positive.
BLU could still backtest to the blue line .
Beware of false...
The Orange TL could potentially be the NECKLINE of a HEAD and SHOULDERS Pattern.
A break below the orange line could be very Bearish.
However a move above the Blue dashed line could invalidate the H and S formation.
A Descending Triangle is also evident ,which go either way.
Prosus is potentially working on an Inverted Head and Shoulder Formation.
It will need to break above the Orange Line and the 200EMA , to potentially begin an upward trajectory.
Sasol is potentially working on an Inverted Head and Shoulders Formation , potential target could be the Black longterm Support/Resistance Line at R358,97
Major contributing factors will be the Oil price and the USDZAR.
Latest candle is a Doji candle, which normally indicates indecision
Negative Divergence is visible on the RSI
UKOIL :
has tested and retreated below the LT TL (pink line)
broken below the Blue TL
tested and retreated below the Black Resistance Line
GND forming a possible Inverted Head and shoulders formation , and a possible Ascending Triangle too .
Last Friday it posted a bullish hammer and a possible tweezer Bottom.
VIX has broken out above the strong Green Trendline.
Broken out of the descending channel.
Broken above the top band of the 20ma Bollinger Band Indicator
ZM could be a potential Buy once it breaks out above the Blue horizontal channel and the Red descending channel.
The RSI is below the OVERSOLD level(30)
The Stochastic is showing a positive divergence.
With Lockdowns all over the world, many people will be working from home again.
