Never miss a story from Shaun Murison

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Shaun Murison

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

SA40 Cash Index

South Africa 40 Cash Index range breakout

The South Africa 40 Cash index is now trading above our upside breakout level of 51000. The aggressive move through this level intraday is validation enough for us to consider the breakout confirmed. The short term downtrend has now reversed into a renewed near term uptrend. The initial resistance target favoured from the breakout is 53000. A close above this level considers the recent high at 54790 as the next resistance target. A close below the intraday low at 50900 is used as the failure level for the breakout trade suggestion.

Struggling with your trading? This could be why.

SA40 Cash Index (previous 13 February on

South Africa 40 Cash Index range breakout

The SA40 Cash Index rebound suggested in our last note, saw the 50700 level target realised and tested on two occasions. However the price failed to close above the level and open up the way for meaningful gains towards the 53000 resistance target. The suggested stop (a close below 48500) was also not triggered. The rebound momentum has stalled and the index now looks to have entered a short term consolidation. The 48385 support level and the 51000 resistance level we think best accommodate for the range of the current short term consolidation. We are looking for a close below 48385 to assume continued downside and a close above 51000 for renewed upside. There is also the possibility of a range trade scenario should reversals off the aforementioned levels occur instead of the breakout scenarios. We will update the SA40 Cash Index call as soon as any of the aforementioned scenarios occur, however for now, the price trades in limbo and we prefer a market neutral positioning until the market reveals its next hand.