Set­ting a pos­i­tive stan­dard

And buy Brent crude on a pull­back…

Finweek English Edition - - Creating wealth - COLIN ABRAMS

FOL­LOW­ING LAST WEEK’S re­port on in­vest­ment bank­ing shares, we take a look at South Africa’s largest re­tail bank – Stan­dard Bank – and what its chart is cur­rently show­ing with re­gard to an up­side tar­get. And on the com­modi­ties front we look at Brent crude oil’s chart that has had a re­cent bounce-back. The charts show that once Stan­dard closes above its cur­rent re­sis­tance level, its price will shoot sharply higher (as will other large re­tail bank­ing shares). Mean­while, the oil price is look­ing bullish but should pull back (tem­po­rar­ily) over the short term be­fore mov­ing higher.

Please note: For more rec­om­men­da­tions and charts by the au­thor on shares, stock in­dices and com­modi­ties please go to www. the­mar­ket.co.za.

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