TradeWise Report The JSE Resources 20 Index edged 0.35% lower on Friday to retest a key support trend line for a fifth time. The index price remains above its 50 & 200-day moving averages and the long term trend remains bullish. In the short term, the trend is neutral as the index price is moving sideways within a range. A breakout and close below the upward sloping support trend line will trigger a change in trend. Both the Stochastic and RSI indicators are trading near overbought levels and moving lower to give bearish signals. This would also suggest that the recent rally is losing momentum and a correction is on the cards. news.psgonline.co.za/2013/09/jse-ekes-out-a-small-gain-on-firmer-rand/
Posted on: Mon, 09 Sep 2013 07:45:04 +0000
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