By Chris Becker
Risk sentiment overnight was somewhat mixed but still positive as US stocks advanced alongside interest rates while oversold oil bounced back 2% as the USD finished lower. This is on the back of potential delays in the US-Mexico tariff deadline while in Europe, the ECB extended its hold status, but nevertheless remains more upbeat than what the economic fundamentals suggest.
Yesterday saw Asian stock markets continue their mixed mood with the Shanghai Composite now almost in free fall with another 1% decline, remaining well below the critical 2900 point support level, to close at 2827 points. The Hang Seng Index closed up 0.3% to 26965 points, with the daily chart still showing a deceleration pattern with a target at the 27000 point area as sentiment is not yet positive enough to get back over that level. I’m still watching the daily lows here for signs of an inversion, with a growing probability of a swing higher on better sentiment:
