Tade-War Comments .... Platinum price is driving Platinum Sector on JSE

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Derek  29 Aug 2019

Good Morning,

I want to start today by showing you what some people have to say about the Trade-War:
“There is no obvious way in sight for both sides to back down and still save face,” say Darrell Cronk, chief investment officer of the Wells Fargo Investment Institute, and Paul Christopher, head of global market strategy. “We have written since the onset that the trade war will have to escalate in order to descalate.”

The markets are still having their volatile movements between resistance lines. The S&P500 had a positive day to close just above the EMA8 line.

The ASX is also hovering at the EMA8 line without any clear direction. Notice my strange trend line caused by the Trade-War.

The uncertain movements are also to be seen on the graph of Advance Micro Devices. You do not know whether you are coming or going!

The new CEO at General Electric could not make a diffirence in such a short period and the share remains in a very steep negative trend. Notice that the trend factor remains very negatively.

JSE Technical:
The platinum price is rising and with it the Platinum Sector on the JSE. Anglo American Platinum was one of the strong movers with a +5.76% gain.

The SATRIX40 made a bounce on support, but could not close above the EMA8 line yet. Notice the divergence.

Enjoy your day.
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