Anglo still looks droopy
And it’s not the time to play ‘Footsie’
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.
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