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: Where the next trade could come from

Tuesday, 29 September 2026

Markets are becoming more selective as recent trends give way to range trading and key support and resistance tests.

The Top40 is hovering near support, gold’s breakdown points to a broader trading range, Brent’s uptrend remains intact despite weaker momentum, and USD/ZAR is testing resistance around R16.40/$.

Shaun Murison, Senior Analyst at Rand Swiss, highlights the key levels and potential setups across major markets.

Inside this update:

• US Indices
• J40 Cash Index
• ZAR
• Commodities

J40 Cash Index

The Top 40 Cash index is hovering around support after an aggressive move lower. We consider a range-trading environment now and are waiting to see how the price of the index treats key support before our next opportunity is considered.

USD/ZAR

The Dollar Rand has been conforming to the technical suggestions, now finding resistance at the R16.40/$ mark. A long bias to the currency pair remains favoured, although there are possible headwinds with key US data out this week to inform October’s rate decision.

Commodities

Gold

The head-and-shoulders break and aggressive move lower assume a broad-range trading environment has emerged for gold. This suggests trading between levels and to targets rather than trying to ride out moves.

Brent Crude Oil

While the uptrend in Brent remains intact, there has been a short-term loss in momentum. A long bias remains favoured for now, provided support remains upheld.