Rand

Finweek English Edition - - INVESTMENT -

is also trad­ing in a tri­an­gle, fur­ther vo­latil­ity may be on the cards in the fol­low­ing weeks. How­ever, if this neg­a­tive cor­re­la­tion be­tween the rand and Tren­cor per­sists, we should an­tic­i­pate downside through the lower slope of the sym­met­ri­cal tri­an­gle. A fur­ther sell-off to the 4 445c/share tar­geted mark could en­sue once a neg­a­tive break­out is con­firmed be­low 6 400c/share. AL­TER­NA­TIVE SCE­NARIO: A pos­i­tive break­out, which would be sig­nalled above 7 455c/share, could ap­pre­ci­ate the share price to the 9 410c/share upside tar­get in the short term (one to six months) – pro­vided that the RSI si­mul­ta­ne­ously breaches its own re­sis­tance trend­line.

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