All eyes on G-20 meeting .... Rand's effect on JSE

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Derek  28 Jun 2019

Good Morning,

International:
All markets were cautious before the G-20 meeting in Japan. Asian markets slip as the G-20 meeting kicks off.

The S&P500 closed above the EMA8 line again, but none of the indicators are confirming this positive move?

Berkshire Hathaway is not bothered about the G-20 meeting and broke out of its flag positively.



Although Micron Technology has a red trend factor, it came with excellent results to start its upwards path with a breakaway gap. Its trend factor are very close to changing positively.



JSE Technical:
The Rand strengthened more, but this time the Financials did not respond and corrected with the Rand Hedges. Notice that the Rand is very oversold as shown by the HeatMaps.



The Resources did respond to the stronger Rand and corrected. Notice how Exxaro Resources bounced down from resistance.



My recollection from negotiations are that the last 10% is all that matters. Be careful of the Trade-War unsolved 10% and what comes out of the G-20 meeting?

You must have a great weekend.
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