Bounce not convincing .... Platinum steals the shine on JSE

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Derek  4 Oct 2019

Good Morning,

We saw a bounce in the US, but markets are awaiting the US jobs report later today.

The bounce of the S&P500 is still way below the EMA8 (orange) and 50 day moving average (dark blue) that are touching each other.

The bounce of the ASX is hardly mentionable.

The bounce of Berkshire Hathaway did not convince FrontRunner, nor the MACD. The closing price did manage to close above the 50 and 200 days moving averages.

Bank of America made a long leg doji on support in oversold territory, but none of the other indicators are convinced yet.

JSE Technical:
Platinum shares are still stealing the shine on the JSE. Anglo American Platinum made a massive +6.47% gain.

The Rand strengthened slightly to stall the correction of the Financial Sector, but also here none of the indicators are convinced other than that we are in oversold territory.

You must have a great weekend.
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