By Chris Becker
Trump’s sudden cancellation of the summit with North Korea caught markets a bit unawares, sending European stocks down while US bourses recovered later in the session. Oil prices tumbled however as the USD was mixed against the majors, with a bounce in gold prices rounding out the volatile overnight session.
Recapping stocks in Asia yesterday where the Shanghai Composite continued its slump after failing to make good on its recent breakout above strong overhead resistance at 3200 , falling nearly 0.5% to close at 3154 points. This confirms that this is not just a small stumble and indicates a lack of strength in this bear market rally, which always seems to fizz out when it approaches the 200 day moving average:
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