An­glo still looks droopy

And it’s not the time to play ‘Foot­sie’

Finweek English Edition - - Creating Wealth - COLIN ABRAMS

WE LOOK AT AN im­por­tant chart of An­glo Amer­i­can (cur­rently only the JSE’s third largest share). Its chart is a good pointer for the all-share in­dex. We also look at a chart of Lon­don’s FTSE-100 in­dex (the “Foot­sie”), which has formed an omi­nous chart pat­tern. In­deed, An­glo’s chart is point­ing to more down­side to come over the medium term. The only way to take ad­van­tage of that is to sell short or hedge your port­fo­lio. That’s con­firmed by the Foot­sie’s chart, which is con­sol­i­dat­ing be­fore an­other down leg.

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

Tech­ni­cal an­a­lyst

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