{"id":6260,"date":"2012-11-22T21:47:15","date_gmt":"2012-11-23T02:47:15","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6260"},"modified":"2012-11-22T21:47:15","modified_gmt":"2012-11-23T02:47:15","slug":"south-african-rand-weakens-on-mining-unrest","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/","title":{"rendered":"South African Rand weakens on mining unrest"},"content":{"rendered":"<p>Continued <a title=\"Reuters: Harmony Gold\" href=\"http:\/\/ca.reuters.com\/article\/topNews\/idCABRE8AL0NS20121122\" target=\"_blank\">clashes between rival mining unions<\/a> fueled further weakening of the South African Rand against the greenback.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"South African Rand\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-11-23-zar.png?w=525&#038;ssl=1\" \/><\/p>\n<p>Rising 63-day Twiggs Momentum reflects a strong primary up-trend. Breakout above R9.00 would offer a medium-term target of R9.50. In the long-term, the next major resistance level is the 2008 high of R11.00.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Continued clashes between rival mining unions fueled further weakening of the South African Rand against the greenback. Rising 63-day Twiggs Momentum reflects a strong primary up-trend. Breakout above R9.00 would offer a medium-term target of R9.50. In the long-term, the next major resistance level is the 2008 high of R11.00.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[38,7],"tags":[3184],"class_list":["post-6260","post","type-post","status-publish","format-standard","hentry","category-africa-south-america","category-forex","tag-south-african-rand"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>South African Rand weakens on mining unrest - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South African Rand weakens on mining unrest - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Continued clashes between rival mining unions fueled further weakening of the South African Rand against the greenback. Rising 63-day Twiggs Momentum reflects a strong primary up-trend. Breakout above R9.00 would offer a medium-term target of R9.50. In the long-term, the next major resistance level is the 2008 high of R11.00.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-23T02:47:15+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2012\/2012-11-23-zar.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"South African Rand weakens on mining unrest\",\"datePublished\":\"2012-11-23T02:47:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/\"},\"wordCount\":56,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2012\/2012-11-23-zar.png\",\"keywords\":[\"South African Rand\"],\"articleSection\":[\"Africa &amp; South America\",\"Forex\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/\",\"name\":\"South African Rand weakens on mining unrest - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2012\/2012-11-23-zar.png\",\"datePublished\":\"2012-11-23T02:47:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2012\/2012-11-23-zar.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2012\/2012-11-23-zar.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/22\/south-african-rand-weakens-on-mining-unrest\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"South African Rand weakens on mining unrest\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Long term, the Rand is expected to hold above support at R6.50 and breakout above R7.35 would signal a primary up-trend. * Target calculation: 7.25 + ( 7.25 - 6.50 ) = 8.00","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3676,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/01\/forex-aussie-dollar-canadian-loonie-and-south-african-rand\/","url_meta":{"origin":6260,"position":1},"title":"Forex: Aussie Dollar, Canadian Loonie and South African Rand","author":"ColinTwiggs","date":"March 1, 2012","format":false,"excerpt":"The Aussie and Canadian Dollar mirror the CRB Commodities Index, testing resistance at their long-term highs. The Aussie encountered resistance at $1.08. Breakout would confirm a primary up-trend -- already signaled by 63-day Twiggs Momentum above zero. * Target calculation: 1.08 + ( 1.08 - 0.96 ) = 1.20 Canada's\u2026","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1951,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/17\/brazilian-real-and-south-african-rand\/","url_meta":{"origin":6260,"position":2},"title":"Brazilian Real and South African Rand","author":"ColinTwiggs","date":"November 17, 2011","format":false,"excerpt":"The Brazilian Real has fallen sharply against the greenback since the government took measures to stem the inflow of funds on capital account. Breach of medium-term support at $0.56 would indicate respect of the descending trendline and another test of primary support at $0.52. In the long-term, failure of primary\u2026","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2346,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/24\/south-african-rand-weakens\/","url_meta":{"origin":6260,"position":3},"title":"South African rand weakens","author":"ColinTwiggs","date":"November 24, 2011","format":false,"excerpt":"The US dollar broke out above its descending triangle, indicating another advance, with a (conservative) medium-term target of 8.80*. * Target calculation: 8.10 + ( 8.40 - 7.70 ) = 8.80","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":318,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/18\/rand-weakens\/","url_meta":{"origin":6260,"position":4},"title":"Rand weakens","author":"ColinTwiggs","date":"August 18, 2011","format":false,"excerpt":"The US Dollar strengthened against the South African Rand, testing resistance at R7.35 before retreating to support at R7.00. Respect of support would indicate another test of R7.35. In the long term, breakout above R7.35 would signal an advance to the 2010 high of R8.00. * Target calculation: 7.35 +\u2026","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4214,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/26\/forex-aussie-dollar-and-south-african-rand\/","url_meta":{"origin":6260,"position":5},"title":"Forex: Aussie Dollar and South African Rand","author":"Colin Twiggs","date":"April 26, 2012","format":false,"excerpt":"The Aussie Dollar encountered support at $1.03, evidenced by several long tails on the daily chart. Recovery above $1.045 would confirm that the correction has ended and would signal another advance to $1.08. Respect of zero by 63-day Twiggs Momentum would confirm the advance. 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