This chart is a beautiful example of why weekly closes are so important!
I remain very bullish on this chart, but R14.48 remains the level we need to get over before there can be any further talk of a Bull market, and this could still take a few weeks.
The chart is working very hard to break above the 233 week EMA, which is camped at R14.50.
Clearing this hurdle and closing over it will be explosive!
The R13.90 level needs to hold on to the downside while holding, and all the dips are Dollar buying opportunities.
Remember that with these corrections/consolidations, the market is trying to tire you out into cutting your position, frustrate you into believing your view is wrong and sow enough doubt that you take the opposite position!
Don’t DO IT!
Stick to the levels always, and remember that inter-week traded levels are noise and the weekly close is KING!