Shaun Murison

Senior Analyst, Rand Swiss

Shaun is a senior analyst specialising in derivatives trading and technical analysis across index, commodity, FX, and equity markets. With nearly 20 years of experience in financial markets, Shaun brings deep expertise to his role, presenting research and analysis to Rand Swiss clients. Shaun is a regular commentator on local and global financial markets, contributing to major media outlets including CNBC Africa, Reuters, Moneyweb, and Business Day. He produces daily and weekly market reports focused on technical analysis and trading opportunities in his core markets. As a registered person at the JSE and a Certified Financial Technician (CFTE), Shaun combines formal credentials with practical market expertise.

You can follow Shaun on Twitter at @ShaunMurison_RS for regular market updates and trading insights.

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Tech Tuesday: US indices diverge as Top 40 stalls at resistance, rand slides past key level

Wall Street benchmarks pull in different directions this week, with the Dow breaking higher while the Nasdaq slips and the S&P 500 holds sideways. Locally, the Top 40 drifts after tagging major resistance, the rand weakens sharply against the dollar and gold and Brent crude hover at critical technical levels.

Inside this update:

US Indices

Major US benchmarks currently trade in different trajectories. The Dow has broken up, the Nasdaq is down, and the SP500 tracks sideways.

J40 Cash Index

The Top40 Index continues to drift sideways after having tagged our 103,198 resistance level.

ZAR/USD

We have seen a sharp move higher in the USD/ZAR post the recent SARB rates decision and ongoing war escapades. R17.25/$ appears to be a critical level to keep an eye on.

Commodities

Gold

Gold continues to consolidate its recent downtrend. Prices are near critical levels, but they are holding for now.

Brent Crude Oil

While Brent Crude oil remains at the mercy of war, the technical picture shows a sharp gap lower this week.

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