By Chris Becker
The wobbly Asian session translated into mixed nights across Europe and the US, with the latter popping to new highs again, but only just as the lack of economic catalysts weighs early in the week. Higher oil prices brought on by the rising turmoil in Saudi Arabia helped lift energy stocks, which should translate into similar gains here in Asia. The RBA meets today and is expected to hold once again on its interest rate.
Recapping Asia yesterday first where in mainland China the Shanghai Composite lifted after a slow start, rising 0.4% to be at 3388 points, still below previous resistance at 3400 points, but it could be ready to break through this week. The daily chart shows how price is now bunching up between the trend line from the 3000 point low and resistance overhead, which is signs of an imminent breakout/down, so watch very closely:
