By Chris Becker
US stocks closed relatively unchanged as European bourses were mixed following a stellar lead from Asia yesterday. Traders are right not to be certain of the technological terror they have created as overexuberant share markets are exhibiting classic topping patterns. The news of change in Saudi Arabia has settled for now, calming commodity prices while the USD remains strong against most of the majors as Trump continues his Asian tour.
Recapping Asia yesterday first where in mainland China the Shanghai Composite is finally past the long held resistance level at 3400, up over 0.5% to close at 3405 points. The daily chart shows how price was bunching up between the trend line from the 3000 point low and resistance overhead, but the upside target is not that far away at 3600 points:
