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USA Interest rate and SA40

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Please can anyone share their technical opinion of the current SA40 and how tomorrow nights USA interest rate announcement can affect it.

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On 29/10/2019 at 07:49, Ilana said:

Please can anyone share their technical opinion of the current SA40 and how tomorrow nights USA interest rate announcement can affect it.

Hi, the SA40 is somewhat out of sync with the other main indices and although a US rate cut should boost the US indices and therefore have a knockon affect for others it's difficult to know how much of the expected cut has already been priced in as there is 97% expectancy of a 25 bp cut today (2% > 1.75%).

On a confirmed rate cut I would still look for a triangle break to the up side and think to enter after a daily close above the line on next day continuation.

1035411457_SouthAfrica40_20191030_09_51.thumb.png.57b761f81211b90ea57b495b1aa6b260.png

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