By Chris Becker
Deutsche Bank’s woes weighed on risk markets overnight as the fallout continued, sending money to safe havens here there and everywhere. US bank stocks fell tell too, not helped by the fraudulent bank (but I repeat myself) Wells Fargo fallout domestically, as oil prices lifted on the OPEC “deal/deal”.
Recapping Asia’s session yesterday, where the Shanghai Composite continues to try to climb back from its recent breakdown, lifting 0.3% to 2998 points, just short of what was once terminal support at 3000 points. This level is now clearly resistance, as momentum remains negative, price is likely to retrace down to previous support/congestion at the 2800 point zone:
