Trade-War Intensifies .... Resources Sector on JSE

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Derek  26 Aug 2019

Good Morning,

China announced more tariffs on imports of U.S. goods, and as expected, Trump responded with a tweet and “ordered” American companies home, creating even more uncertainty for business planning.

Asian markets sink as Trump ratchets up trade tensions. The Trade-War is turning ugly now!

Federal Reserve chair Powell indicated that lower interest rates were possible.

The U.S. markets came tumbling down as Trade-War intensifies. The S&P500 dropped -2.59% to end close to previous support.

The FTSE 100 never even managed to get above the 200 day moving average or break the EMA8 line.

It is about impossible to deal with the Trade-War volatility. In the S&P500 we only had 9 shares that moved positively. We can only wait and see how the Trade-War will play out. Currently it is an ego game with no winner.

JSE Technical:
I showed the monthly graph of the Satrix40 last week. I want to show the Resources Sector today. This index is at a level of 2006. Not healthy at all!

I am sure the Trade-War will have an effect on the JSE too, so there is no point in showing any share during this unstable market environment. World Markets will all take a severe knock until this War is ended one day .... no end in sight though!

Enjoy your day.
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