Macro Morning

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By Chris Becker

A volatile start to the New Year on overseas markets with large gaps down on equities filled but not with confidence as bond markets and safe haven currencies remain the place to dump cash.

Recapping Asia’s session yesterday first where the Hang Seng Index gapped 2% down on the open and has closed 2.7% lower to 25130 points. This keeps it well under previous support at 25600 and creates a solid downtrend line with a retest to the previous lows at 24500 likely:

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