By Chris Becker
A hesitant start to a busy week on the economy calendar with US stocks treading water as oil prices dropped in anticipation of the upcoming OPEC meeting, while European bourses fell on a weak Asian lead. This was despite the Euro retreating from its lofty heights as the USD reasserted strength against most of the majors briefly, except Yen.
Recapping Asia yesterday first where in mainland China the Shanghai Composite had a poor start to the week, losing 0.8% to be at 3326 points, proving that the 3300 support line is a strong anchor. The daily chart shows a reversal of momentum to the negative side, so expect further falls if 3300 is taken out:
