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 Tuesday: Markets consolidate gains ahead of key inflation data

Tuesday, 8 September 2026

Rand Swiss Senior Analyst Shaun Murison runs through the week’s key technical setups, from gold’s short-term bounce and a fresh USD/ZAR trading range to Brent crude’s overbought push higher, plus where the Top40 and major US indices stand ahead of Friday’s US CPI print.

Inside this update:

• US Indices
• J40 Cash Index
• ZAR
• Commodities

J40 Cash Index

The Top40’s broader uptrend remains intact as the index consolidates below short-term resistance. The technical picture remains constructive while traders watch for the next signal from current levels.

US Indices

The Dow, S&P 500 and Nasdaq have reached their respective upside targets and are now consolidating. Despite the pause, their longer-term uptrends remain intact, with Friday’s US CPI print providing the next important event risk.

ZAR/USD

USD/ZAR has established a new short-term trading range between R15.89 and R16.19 and is currently reversing from support. With the currency pair rangebound for now, attention remains on these boundaries for signs of the next directional move.

Commodities

Gold

Gold has found short-term support following its recent pullback, with the technical indications now skewing in favour of the bulls. The setup remains constructive, although Friday’s US CPI inflation data represents an important risk event heading into the weekend.

Brent Crude Oil

Brent crude’s short-term uptrend remains intact as the price continues towards its next resistance target. The move is now well into overbought territory, although a technical top has yet to be confirmed.