ORIGINALLY POSTED ON OUR CLIENT PLATFORM AT 12:19pm TODAY at 52151c.
"FED stimulus, the threat of negative rates and safe-haven status, so these names remain well bid...While it is CURRENTLY bullish, some of you may have however noticed ANG nearing the overhead trend line resistance zone stretching back to the Jan-2003 and Feb-2016 swing highs, as well as the March 2009 and December 2011 channel resistance zones. Could very well see an overshoot of the trend line, but always caution as share is 430% off the May 2018 lows. Also, Monthly RSI is starting to signal bearish divergence."
Regards
Lester Davids
"FED stimulus, the threat of negative rates and safe-haven status, so these names remain well bid...While it is CURRENTLY bullish, some of you may have however noticed ANG nearing the overhead trend line resistance zone stretching back to the Jan-2003 and Feb-2016 swing highs, as well as the March 2009 and December 2011 channel resistance zones. Could very well see an overshoot of the trend line, but always caution as share is 430% off the May 2018 lows. Also, Monthly RSI is starting to signal bearish divergence."
Regards
Lester Davids
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ANG Update: Currently around 90 Rand lower. Long term, gold shares coming off. Short term i'm monitoring for a turn (i'm very patient though).
