by Chris Becker
With US markets closed for the long weekend and no major economic events on the calendar it was hoped that the Mining GFC would have a reprieve, or at least a pause and more or less that’s what we got overnight. European stocks fell a little at the close following the Asian lead, while oil continued to fall but at a more moderate pace as industrial and precious metals rose. Bonds were mixed, mainly on the lack of US trading volume.
Recapping Asia first where the Shanghai Composite rose slightly, rebounding off the 2900 point low line that may provide a tenuous support level going forward. I’m watching the daily downtrend line which remains intact:
