By Chris Becker
Its Dow 20,000 as Trump fluffs risk markets to new highs with his decisive executive orders with cascading effects to currencies as USD surges – particularly against Trade War Enemy No.1 Mexico – while gold slumped in response. Australian traders have missed the bullish action so are likely going to hit the buy button strong on return to their desks this morning.
First to Asia’s session yesterday, where the Shanghai Composite had another positive session, rising 0.3% to close at 3159 points, beginning to gain some traction as it builds off of terminal support at 3100 points, which continues to hold. Momentum is turning positive and the daily high moving average is now the trend, so I’m waiting for the previous attempt at a breakout to be beaten before getting bullish:
