By Chris Becker
A slump in hiring conditions in the US saw stocks improve and a possible retraction of tariffs against Mexico lifted USD against all the majors overnight. Oil prices slumped nearly 3% as long positions continued to be abandoned in the wake of decade high petrol stockpiles in the US.
Yesterday saw Asian stock markets continued their somewhat mixed mood with the Shanghai Composite still unable to get back above the critical 2900 point support level, putting in a scratch session, while the Hang Seng Index closed 0.5% higher to 26895 points, finally able to arrest the recent decline. The daily chart had been showing a deceleration pattern with a target at the 27000 point level but sentiment is not yet positive enough to get back over that level. I’m watching the daily lows here for signs of an inversion, with a growing probability of a swing higher on better sentiment:
