The DEC16WMAZ contract dropped and closed extended limits or R150 lower for the first time ever on a main contract month before options expire. The contract shed R230 in just 2day’s since its high on Tuesday. Could a further slip lower bring prices back into the previous downward trend, as shown in the graph below? Nearby support is seen at R4080 and R4060 (top of the downward trend channel) whilst nearby resistance is seen at R4140, R4160 and R4200
Technical Dec16WM
on 16 September , 2016
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