By Chris Becker
It should be a nice day in Asia after the failed start to the week yesterday with US stocks leading the charge overnight, putting aside all domestic politics aside and going straight to buy the dip mode. This is mainly on the back of the oil price surge as OPEC members start to build pressure to extend supply cuts, boosting WTI crude up to nearly $50USD per barrel.
Yesterday in China the Shanghai Composite closed up only 6 points, or approx. 0.2% higher to 3089 points. The critical support level at 3100 remains too far away once again. This continues to turn into strong resistance as this failure to breach higher sets up for falls back to the 3000 point level:
