Tuesday, May 31, 2011

Sasol looks ominous

The recent chart Sasol looks like Sasol share price is on a slippery slope down. The 3-year chart first. It shows that after it has broken out of a symmetrical triangle, it has reached the target.

But the recent chart looks like a head and shoulders pattern forming. If it does break down the support at R350, it can go down to R310.

I would say cash is king!

Monday, May 30, 2011

The future of the Rand

The Rand has been trading sideways against the US Dollar since August 2010, between 7.30 and 6.50. It looks like the Rand is unlikely to break the R6.50 mark, and can trade in this range for some time.

Gold price set to run to R15,000 per ounce

The charts below shows the trend of Rand gold price over last 5 years - up and up.

An exciting development is the Rand gold price has reached new highs, now close to R10,500 per ounce. See below the 3-year chart.

The Rand Gold price looks set to reach R15,000 in the next couple of years. A very good investment in my book.

The ALSI looking to trend down

It's been a while since I last analysed the ALSI chart. The recent chart shows ALSI has been trending down since Feb 2011, with lower highs.

If it breaks down the support level of 30,000, it can go down to about 27,500. I think a market correction in the next few months is likely, and will look to re-enter the market at that time.