By Chris Becker
More stability overnight on Wall Street with European markets also rebounding, while interest rates also rose on the better risk sentiment, the oil price fell again as the DOE inventory report underwhelmed.
Looking at the action on Asian markets yesterday, where the Shanghai Composite continued to fall, albeit at a slower rate, closing 0.3% lower at 2768 points while the Hang Seng Index put in a scratch session, losing only a handful of points to close at 2595* points. This keeps it just above the January lows at 25000 points but nowhere near out of trouble in an obviously extremely oversold position that still has the potential to overshoot to the September 2018 lows at 23000. I’m watching for a new session high and to get back above -200 on the CCI:
