Markets stabilising? .... Falling Rand

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Derek  20 Jun 2018

Morning,

International:
The East shrugged off the negative sentiment created by the Trade_war this morning and all indices bounced back. Like all indices around the world, the US also took a beating yesterday.

Although some consolidation is taking place, the correction is still in progress as can be seen on the S&P500 chart.



Bank of America is consolidating above support and the 200 day moving average that acts as support too.



JSE Technical:
Not even the falling Rand saved our Rand-hedges from the Trade-War. I show the Rand/$ graph of Newwave USD. Note that the currency graphs are reversed from share graphs. Going up means weakening (falling) of the Rand.



Some shares did manage to stay above their supports. Pick n Pay was one of them.



What can we expect next from Trump???? Your guess is as good as mine, all that we can do is follow the signals.

Enjoy your day.
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