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By Chris Becker
Well there it is – volatility spiked tremendously overnight with US and European stock markets losing nearly 2% as risk ran to safe havens like gold, Yen and bonds.
Yesterday in mainland China the Shanghai Composite closed down nearly half a percent recovering a sharp selloff just before lunch to be at 3261 points as it continues to reject the next obvious resistance at the 3300 point level. That level is firming more and more as the week’s pass with momentum waning here, and risk turning overnight, we could see a retracement below the low daily moving average soon:
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