Snap-back relief in sight
But beware the downside
JULY WAS ONE OF the most volatile months experienced on the JSE for a long time. We look at a chart of the JSE all-share index to get an idea of where prices are heading over the short to medium term. We also look at a chart of steel producer ArcelorMittal (ArcMit- tal), which reported a positive set of numbers last week. The Alsi’s chart points to a short-term relief rally to come but thereafter the index will be vulnerable to more downside. Likewise for ArcMittal: it’s lining up for a good short-term rally before another wave of selling.
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