Big break today below both the parallel support-line & the 50-day Exponential Moving Average (EMA). Should this not be a false break, could see us test the R400 levels soon, with a break and close below R400 most probably testing the R387.50 levels. Strong support only at the 200-day EMA at R377.50.
Would stay clear of any short-term long positions until we move back into the channel.
Thomson Reuters consensus target price on Anglo's is still R445.10 & am I still extremely positive on the long-term prospects of the group. Would therefore use any weakness as a buying opportunity. Will keep you posted...
Would stay clear of any short-term long positions until we move back into the channel.
Thomson Reuters consensus target price on Anglo's is still R445.10 & am I still extremely positive on the long-term prospects of the group. Would therefore use any weakness as a buying opportunity. Will keep you posted...