Interesting charts
Nikkei-225 – The Index experienced a steep decline over the last week but found at least near-term support in the region of 18,000 but a sustained move back above 19,200 will be required to signal a return to demand dominance beyond current scope for a continued bounce.
UK – the FTSE-100 has had a 20% pullback from its April peak to Monday’s short-term trough. Some steadying is likely but the Index will need to find support at progressively higher levels and sustain a move back above the 200-day MA to begin to suggest a return to demand dominance beyond scope for short-term steadying.
South African Rand per 1 US Dollar – The Dollar has been trending consistently higher against the Rand for five years but accelerated to test the ZAR14 level this week and hasn’t touched this level since 2000. Potential for a reversion to the mean has increased but a sustained move below the trend mean would be required to question the medium-term advance.
