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.

Tech ‘Wednesday’: Markets under pressure as volatility risk builds into week’s end

Wednesday, 2 September 2026

Tech Tuesday arrives a day later than usual this week, after the Rand Swiss team spent yesterday at the Money Summit.

Global and local markets are broadly in risk-off mode, with Wall Street and the Top40 pulling back alongside gold, while the rand softens and oil pushes higher. Despite the short-term weakness, longer-term trends for the major US indices, Top40 and gold remain constructive. Attention now turns to Friday’s US jobs report, which could drive increased volatility across currencies, equities and commodities.

Inside this update:

• US Indices
• J40 Cash Index
• ZAR
• Commodities

J40 Cash Index

The Top40 pulls back from short-term highs, with Shaun Murison identifying lower support levels where a bullish reversal could provide a potential entry trigger.

US Indices

The Dow, S&P 500 and Nasdaq remain in short-term pullbacks within longer-term uptrends, with Shaun Murison identifying how far the moves could extend and where new entries may emerge.

ZAR/USD

USD/ZAR reverses sharply following last week’s downside breakout, with Shaun Murison assessing the extended trading range and the potential for increased volatility later in the week.

Commodities

Gold

Gold enters its first meaningful pullback since the strong move higher, with Shaun Murison maintaining a long bias and identifying potential triggers for a new entry.

Brent Crude Oil

Brent crude breaks above gap resistance, with Shaun Murison identifying the short-term upside targets and failure levels as the potential for further gains opens up.