by Chris Becker
Fear is ruling markets at the moment, fear that central banks cannot support the flailing fundamentals across global economies, with the Fed still keen on raising rates, the BOJ contemplating more useless stimulus and the BOE flustered by a possible “Brexit”. Once again, falls in crude oil are pushing stock markets down while safe havens like gold and Yen are being bid as holders of Pound are scrambling for their own “Brexit”.
Recapping Asia’s session first where the Shanghai Composite slumped over 3% and finished just above support at 2800 points. This is a bear market still in its death throes with levels of resistance always rejected. I’m still looking for a breakdown here with my target the former low at 2600 points:
