By Chris Becker
The nascent recovery on risk markets continued overnight with US stocks rebounded strongly before fading going into the close on the back of a possible resolution or at least fading of problems in trade with China and the USA. The Brexit saga saw more volatility in Pound Sterling, this time to the upside while the latest DOE oil inventory data didn’t help oil’s cause.
Recapping Asia’s session yesterday where the Shanghai Composite closed up a handful of points to 2601, hanging on but and just able to get back above the previous support level at 2600 points. The daily chart is still moving sideways, however and this is very weak action after other markets have put on much better recoveries:
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