By Chris Becker
A mixed Friday on Wall Street with concern over a slightly disappointing US employment print sending stocks to scratch finishes, while interest rates the USD finished lower, although gold dropped against USD as well. European bourses did better, but not by much so its a case of caution through the weekend to this morning’s open here in Asia.
Looking at the action on Asian markets on Friday, where the Shanghai Composite put in a late session rally to finish nearly 0.5% higher, but still closing the week just shy of the 3000 point barrier. The Hang Seng Index also lifted a solid 0.5% to rise to 26660 points to claw back the previous losses, solidifying its breakout above the high moving average. Note however on the daily chart htat momentum is not yet positive, with price still below trailing ATR resistance at the 27000 point barrier – the bottom is not yet confirmed:
