Trade Tensions ratchet back up .... Gold Shares on JSE

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Derek  9 Oct 2019

Good Morning,

Markets retreat as trade tensions ratched back up. (Why am I not surprised .... ?)

The S&P500 gapped down again and none of the negative trend lines were broken as shown.

I zoomed out a bit to show that the Hang Seng is now back at the JAN 2019 levels giving no growth for the year to date.

The Trade-War is causing most shares just to continue their slide as can be seen on the graph of Adobe Systems.

Similarly for Amazon where the 50 day moving average are about to cross the 200 day moving average (death cross).

JSE Technical:
The JSE opened positively, only to follow world markets lower as the day continued. I show this for the Satrix 40.

All the negative sentiment favours gold shares again and Gold Fields is continuing with its short term positive trend.

You can expect a lot of volatility with the trade-war talks.

Enjoy your day.
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