By Chris Becker
And so the wheels turn. Markets are having none of the growing turmoil in Washington, selling off risk big overnight with US stocks falling 2% amid signs that Trump may not last a full year in the White House. Treasuries have rallied strongly alongside gold prices, as the USD is sold off swiftly in anticipation that the Fed may have to pause its agenda. Its going to be a dour day in Asia with futures indicating similar falls across the region.
Yesterday In China the Shanghai Composite has slumped going into the close, finishing 0.3% lower to 3104 points. Momentum and long term price support does not suggest that the move back above previous support, now resistance will last, requiring a break above the 200 day moving average (light blue flat line below in the daily chart):
