top of page
  • Writer's picturePeet Serfontein

Analyst Thoughts - USD/ZAR Medium-term

VIEW RETAINED FOR A TRIANGLE PATTERN THAT IS BUSY DEVELOPING BETWEEN 17.94 AND 19.55.

  • The general bearish stance from P has materialised, as part of a potential PQ triangle pattern.

  • The QN-defined downward correction is potentially phase C of the A,B,C,D,E triangle pattern.

  • The current downside has moderate further downside potential to K*/N cluster support. This should complete phase C and activate D gains towards P.

  • The triangle continuation pattern in the eventual re–emergence of the long-term bull trend to T1.

  • A breach of K* will negate the overall view. R1* is the triangle mid-point line.

Target and Re-assessment Levels:

Important Levels: R1* and K*

Primary Trend: Gains off K to P

Monthly Range: R1*/K*

Current Trend and Target Levels: Downside to S1/K*

Technical Rating: Medium



9 views0 comments

Comments


bottom of page