Raees_21

Raees_21

This Chart is for Academic purposes -- - Looking at the length of the previous Bull Markets off the lows - Looking at current Market Sentiment, lots of new traders entering the market through platforms such as Easy Equities etc. - Emerging market expectations in general after looking at US and Europe Stocks

Raees_21

The Resistance level of 255942 has lined up with 2 previous resistance levels as before shown by the red arrows drawn. I think a break above this level would signal we headed for new highs, if we reach this level and fail to break above i think we might see a retest at the bottom of the upward moving channel.

Raees_21 Updated 

I expect Absa to make lower highs and lower lows in the short term, the chart seems overall bearish to me waiting to see how it plays out.

Raees_21

The chart is oversold on the short time frame and could bounce back a little with the previous resistance acting as a resistance again. In the longer time frame of the chart, Discovery is bearish dropping below all Fibonacci levels and breaking below key support levels, I expect it to go lower before bottoming out completely.