TALK­ING TECH­NI­CALS

Last year’s out­per­for­mance by re­sources stocks may just have been an anom­aly

Financial Mail - Investors Monthly - - Contents - GARTH MACKEN­ZIE www.trader­scorner.co.za

Fun­da­men­tally, the back­drop sup­ports the bear­ish tech­ni­cal outlook for the rand, so fur­ther rand weak­ness looks likely from cur­rent lev­els. Only a break be­low R12.50/$ would turn the bias back to­wards rand strength. Right now, the odds of that hap­pen­ing look about as good as the odds of the Spring­boks ever win­ning an­other rugby World Cup.

Dif­fi­cult times lie ahead, and un­for­tu­nately the poor­est are likely to suf­fer most from the re­cent de­vel­op­ments.

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