SA Banks going lower quite a bit in the near future becomes a greater possibility:
1. DOLLAR seems to make a short term correction so we might see a weaker RAND which in turn is not good for banks.
2. The recent bank results were not good regarding provisions.
3. And then obviously the descending triangle.
If the triangle plays out chances are good I will do a short term long-trade in either ABG or NED.
1. DOLLAR seems to make a short term correction so we might see a weaker RAND which in turn is not good for banks.
2. The recent bank results were not good regarding provisions.
3. And then obviously the descending triangle.
If the triangle plays out chances are good I will do a short term long-trade in either ABG or NED.