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Last week I told you resources are going to soar, this week I finally have the chart to prove it!

by , 27 May 2015

Last week Monday 18 May 2015, I surprised many of our Trading Tips readers.

I told you in the article “Resources are finally ready to rally after nine months of downside”, that you can expect huge upside to come.

I took quite a lot of criticism as well…

“Timon with all negativity in the market with, Eskom moving to stage 2 load shedding, E-tolls about to become compulsory to pay and corruption where money from taxpayers money goes to so many pockets in the country, why do you think resources will go up?”

“I sold my resource stocks Timon because I can't wait anymore, you're going to be wrong with this one.”

First of all… Thank you for all of the comments and criticism… I really appreciate your passionate views about what's going on in the markets.

My heart tells me you are all correct, but unfortunately I have no say when it comes to what my charts have to tell me.

And so today, I'm going to reveal the chart...

The JSE is showing a 9.4% move in the next few weeks!
jse set to soar in the next few weeks.jpg

Looking at the JSE Top 40 chart, you can see that 12 months have passed with the JSE moving in a sideways range. It’s been moving up and down between 41,296 up to 47,254.

But recently it broke out of the 47,254 level. And that’s when it showed strong upside to come. This alone took the JSE to an all-time high of 49,141.

The ALSI 40 then retested the breakout at 47,254, and bounced right back up.

This tells me that it’s confirmed that there is not much selling lower down. And so now the JSE is ready for its next leg up.
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The ALSI 40 is set to soar to uncharted levels, get in on the action!

Sure, we can see a little bit of sideways motion in the ALSI 40 for the next few days, but as long as it’s above 47,254, we can expect the

ALSI to shoot up to it’s next high target of 52,543.

So why does this confirm upside for resource stocks then?

Well, let’s take a look at the ALSI 40 market cap. The total market cap on the ALSI is at R9,721,386,698,237 or 9.7 trillion rand.

In the top 10 stocks looking at market cap we have five resource stocks in the list.

Glencore plc has a market cap of R723,805,881,952 (7.45%)

BHP Billiton’s market cap of R525,587,069,102 (5.68%)

Anglo American plc cap is 303,370,233,264 (2.84%)

Sasol Limited market cap sits at R294,247,886,606 (2.99%)

This means out of 40 stocks, The top resource stocks makes up 18.96% market cap.

This means that if the resources market is set to rally big time, you can expect the JSE to follow suit.

And if you want to get in on the action, you need to know what to buy, sell, when to buy and why to buy right?

Well, let me cut your learning curve short… I just want you to profit now. So click here and I’ll show you exactly how you can do this…

"Wisdom yields Wealth"

Timon Rossolimos

Senior Editor:
  Trading Tips 
Head AnalystRed Hot Storm Trader
Author:             94 Top Trading Lessons of All Time

Ps if you missed this week's Trading Tips TV video for the week,click on the video to watch below! 
floyd maywtheather takes punches like a trader button.jpg

Last week I told you resources are going to soar, this week I finally have the chart to prove it!
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