Indices at top end of Trade-War band .... Breaks on JSE

    All Channels      Market Reviews  

Derek  2 Sep 2019

Good Morning,

Trump announced that trade-war negotiations will commence again on Thursday on a different level. Your guess is as good as mine what that means? The East is slipping after Trump's latest tariffs kicked in at midnight.

The S&P500 stalled just below the top resistance of the trade-war band and also below the 50 day moving average.

The NIKKEI did the same with the only difference that the index is still way below the 50 and 200 day moving averages.

Estee Lauder reached resistance with divergence and immediatly started correcting.

Similarly for McDonalds.

JSE Technical:
The Banking Sector finally decisively broke the negative trend line. You can see this on the graph of Standard Bank. Notice the divergence at the turn with a double bottom.

Kumba Iron Ore broke the trend , EMA8 and 200 day moving average lines simultaneously.

While indices are below the 50 and 200 day moving averages, we are actually technically still in negative territory.

Enjoy your day.
Download TradeFX™

Copyright © 2017 {Zoclee}™. All rights reserved.