Trading Research Note: USDZAR, JSE Top 40, S&P 500, Silver and GBPJPY

Trading Research Note: USDZAR, JSE Top 40, S&P 500, Silver and GBPJPY

USDZAR: At current levels, the price trades at it’s recent highs with the 15.33 level being a key resistance zone. The price remains above a rising 50-day moving average suggesting a strong upward trend.

JSE Top 40 Index (Spot): The index has regained and held the key 48000 level. Provisionally, 48809 is seen as a resistance zone while 48141 is support. Look for potential re-test of 48100-48200 before a move higher.

https://www.tradingview.com/x/6NEmpiG7/

S&P500 Futures (e-mini): The price, at current levels, is trending toward the trend line support extending back to 03 June. The 50-day is starting to show a downside bias with the 2939 level again acting as a resistance zone. RSI weak with a 40 reading.

US equities under-performing the rest of the globe.

Silver Futures: Time to re-enter the silver long? Price retracing toward and finding support on it’s upward trending 50-day moving average. Trigger will be break of downward channel. Contact the trading desk for levels.

GBPJPY (Pending Trade Setup) – Look to buy at the prior breakout level of approximately 129.40 to 129.70. TP of 132.80 and SL of 128.30

Please chat to the Unum Capital Trading Desk to take advantage of any trading opportunities.
All the best,
Lester Davids
Unum Capital Trading Desk Analyst
e-mail: clientservices@unum.co.za
Tel: 011 384 2923

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