Shaun Murison, CFTe

Shaun Murison, CFTe

Technical Strategist

Technical Analysis, risk management & position sizing
Shaun is the Senior Market Analyst for IG South Africa, with over ten years of industry and trading experience. Shaun is a regular financial market commentator across media formats TV, Radio, online and print for the likes of CNBC, Reuters, PowerFM, Business day and Fin24. Shaun also writes daily and weekly market analysis reports for IG, as well as heading up client education support in South Africa through both regional seminars and webinars. He is a technical analysis specialist with carrying the CFTe (Certified Financial Technician) charter through the International Federation of Technical Analysis (



The South African Rand Starting to Reverse Course

After an extended period of rand strength, the following charts highlight what could be the early stages of a larger trend reversal starting to emerge against developed market currency peers, the USD...

South Africa 40 Cash Index Trend Reversal in Place

We now consider the price activity below the 50239 level to be an inverse head and shoulders formation (labelled L, H & R), confirmed by the strong upside break (circled black).

South Africa 40 Cash Index Bear Flag Forming

Despite the rebound we still consider the trend bias for the index to be down. The move higher has also moved the index back into overbought territory.

South Africa 40 Cash Index Posts Sharp Rebound from Downtrend

The index price has also closed back above the 48400 level, which means we are currently not looking for short entries anymore, but rather sit in a neutral positioning for now

South Africa 40 Cash Index Targets Realised, Downtrend Remains

The lay of the 20, 50 and 200 day simple moving averages reminds us of the negative trend bias

South African Rand Weakens After Rate Cut

The South African Reserve Bank has cut interest rates, causing the rand to weaken. We look at the levels to watch on the charts.

South Africa 40 Cash Index Downside Breakout Confirmed

The bearish crossovers of the 20, 50 and 200 day simple moving averages reinforces a negative trend bias

South Africa 40 Trading Range Develops

The loss of momentum in the upward trend highlights a broader range consolidation

South Africa 40 Cash Index Upward Momentum Gaining Traction

The SA40 Cash Index has traded through our initial target at 52345 and is nearing our secondary target at 53090

South Africa 40 Cash Index range trade and dividend consideration

From current levels we consider a short term range trade opportunity, with the initial upside target considered at 52345

South African Cabinet Reshuffle: the Good, the Bad and the Rand

New South African President, Cyril Ramaphosa, has reshuffled his ministerial cabinet, which has been received with mixed review. We look at how the rand is reacting.

South Africa 40 Cash Index Upward Momentum Resumes

The SA40 Cash Index has now confirmed the trend line breakout we were waiting for in the last note (below), to trigger the long entry scenario

The budget, ratings agencies and the rand

On the release of the 2018 budget, the rand found continued strength against developed market and emerging market currency peers.

South Africa 40 Cash Index 1st pullback from breakout

The current pullback is the first pullback since last week’s guided range breakout and a possible a second opportunity for long entry

South African rand rally continues as Zuma resigns

The South African rand is rising against the US dollar as markets applaud Jacob Zuma’s decision to stand down as the country’s president.

South Africa 40 Cash Index range breakout

The South Africa 40 Cash index is now trading above our upside breakout level of 51000 to reverse the recent downtrend

Where next for the South African rand amid further political turmoil?

The South African rand has been one of the best performing currencies globally in 2018, but there's a risk that political turmoil gets in the way. We look at the technical outlook for the rand.

The Rand Approving Recent Developments

The rand has traded to its best levels against the dollar since May 2015 and remains firm against the GBP and EUR as well as its emerging market currency peers.

Understanding the ANC Election Impact And Why ZAR Traders Care

What the ANC elections are all about and why traders care about who wins.