Pound starts tumbling on Brexit .... Bidvest surprise on JSE

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Derek  3 Sep 2019

Good Morning,

News in Brief:
The U.S. markets were closed yesterday for a public holiday.
Asian stocks are mixed on trade doubts. (I do not trust anything, with Trump the wild card!)
Pound tumbles as British factory output hits seven-year low ahead of Brexit showdown.

See how the ASX is hesitating just below the resistance and 50 day moving average lines.

The Hang Seng is about unchanged near the bottom support of the volatility bands and just below the EMA8 line.

JSE Technical:
The Satrix40 is just as volatile. After breaking the 200 day moving average intraday, it turned around to close way below it again.

After announcing good results, Bidvest broke up. Notice how the bounce started with the previous bar! (Insider trading is alive and well) The trend factor is moving towards a positive value.

Kumba Iron Ore broke resistance and divergence showed the bottom again.

As the trade-war negotiations heat up again, you can expect high volatility. Decide yourself if they will reach an agreement? One analysts commented that we will have to learn to live with this volatility....very difficult!

Enjoy your day.
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