Rand strength be­fore weak­en­ing

But San­lam looks set for higher tar­gets

Finweek English Edition - - COMPANIES & MARKETS - COLIN ABRAMS colin@the­mar­ket.co.za Tech­ni­cal An­a­lyst

WE LOOK AT A chart of the al­ways im­por­tant US dol­lar/rand. It’s been show­ing rand strength again over re­cent weeks. But is that likely to last? We also show a chart of fi­nan­cial gi­ant San­lam. It’s re­cently bro­ken out to the up­side above im­por­tant re­sis­tance lev­els. It’s likely to con­tinue mak­ing its way higher and has two new tar­gets in place. The US dol­lar/ rand chart points to a bit more rand strength over the short term be­fore weak­en­ing again.

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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