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Technical trade notes ahead of interest rate decision - 19 July 2018


With the looming interest rate decision, we might see some movement on the local front. I will be looking at the Alsi Sept 18 and the USD/ZAR currency pair.

USD/ZAR technical trade note

  • Entry (BUY): R 13.51
  • Stop loss: R 13.15
  • Target price: R 13.93

Screen Shot 2018-07-19 at 13.21.08

Source Bloomberg

Trade on Alsi

The Alsi has been trading in a sideways channel for a couple of months now with no clear direction that the price will move back to the all-time highs we have seen recently. With the price moving higher from the 48590-support level we might see it move higher once more. I will wait for a daily close above the 50472 level to place a long trade back to the 51480 level.

Trade for the Bulls

  • Entry (Buy): 50472
  • Stop loss: 49777
  • Target price: 51480

Screen Shot 2018-07-19 at 13.22.11

Source Bloomberg

Trade for the bears

  • Entry (Sell): 49684
  • Stop loss: 50398
  • Target price: 48751

Screen Shot 2018-07-19 at 13.23.23

Source Bloomberg


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