By Chris Becker
A relatively quiet night on risk markets not withstanding the spray of opinion from Trump over the weekend that has the Europeans in a tizzy. Luckily it was a holiday last night for US traders, so no movement in bonds and currencies of any major concern, with European bourses retreating a little with no lead or economic news, save the upcoming Brexit speech by Theresa May to incite a big move.
First to Asia yesterday where the Shanghai Composite lost 0.3% after being down over 1% before lunch, finishing just above terminal support here at 3100 points. With momentum clearly negative and price hovering at the 200 day moving average, there’s not much room here for bulls to double down, so I expect a fall today, with a possible retracement down to 3000:
