Setting a positive standard
And buy Brent crude on a pullback…
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.