By Chris Becker
The risk takers sat and watched Janet Yellen and CNN amid building troubles in Korea and Syria – and overbooking airlines – so US Treasuries were bid while stock markets entered scratch sessions. The biggest movers were commodities with oil on a winning streak on the Middle East dramas, exarcebated by Libyan supply troubles as the USD retreated. It will be a lacklustre session in Asia today as all bourses – except Japanese – are keen to breakout to new highs.
Yesterday, Chinese stocks were pulled down with the Shanghai Composite closing off 0.5% to 3269 points as it tries and fails again to beat overhead resistance at 3300 points. The daily chart clearly shows that a breakthrough above that level should see an explosion upwards:
