Encouraging data in China .... Platinum and Gold drives JSE

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Derek  4 Sep 2019

Good Morning,

International:
Asian markets mostly gain after encouraging data on China services activity.

The U.S. declined on trade woes and after the measure of manufacturing activity indicates contraction.

The S&P500 closed just above the EMA8 line in the middle of the volatility bands.



The Hang Seng is at a similar position as the S&P500.



The Graph of Advance Micro devices looks about identical to the indices. Notice the 2 doji's against the top resistance of the volatility band and then the retraction.



The only difference for Berkshire Hathaway is that the 50 and 200 day moving averages are forming part of the top resistance.



JSE Technical:
You can see the same similarity on the graph of the Satrix40. Notice that the 200 day moving average is also forming part of the top resistance.



The world uncertainty is still driving the gold and platinum prices higher. Impala Platinum closed with a doji on my trend line and it looks as if it is starting to run out of steam.



Enjoy your day.
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