By Chris Becker
A buoyant mood in Asia didn’t immediately translate to success on European stock markets before US traders stepped in, on the realisation that a Clinton Presidency seems to be firming as the first (and last?) debate came to pass. The rally in US stocks was helped along by much better than expected consumer confidence figures alongside steady house price growth. Oil fell on comments from the Iranians, as the USD slipped alongside gold which cracked to a near two week low.
Recapping Asia’s session yesterday, where the Shanghai Composite came back from its breakdown, up 0.6% but still closing 2 points shy of former support at 3000 points. With this significant break, price is likely to retrace down to previous support/congestion at the 2800 point zone, so watch out:
