By Chris Becker
Risk markets were helped overnight due to the US holiday although European bourses caught up to the previous Wall Street carnage, like in Asia yetserday the falls weren’t as strong. Currency markets retreated in volatility although the Aussie and Kiwi fell slightly, the Euro was largely unchanged while gold put in another high.
Recapping Asia’s session yesterday where the Shanghai Composite only fell 0.6% to 2649 points, still remaining above the previous support level at 2600 points, digesting the volatility quite well. The daily chart was beginning to show life here, but price must maintain itself above 2600 this week to then have a chance at breaking through resistance at the 2700 point level:
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