By Chris Becker
A mixed night again on Wall Street with concern over a no-deal Brexit easing slightly as Boris finds his deadline curtailed by Parliamentary law – so now he’s going to suspend it! Pound Sterling lept higher, dragging Euro with it while the Aussie fell back slightly but remains quite strong against King Dollar. Oil prices have broken out with both Brent and WTI 2% higher for new weekly highs while other commodities cooled off, particularly gold which has cracked below $1500USD per ounce.
Looking at the action on Asian markets on Friday, where the Shanghai Composite was the best in the region, closing 0.8% higher to firmly advance above the 3000 point barrier while the Hang Seng Index fell back slightly to put in a scratch session, closing at 26681 points but remaining somewhat overbought. Note however on the daily chart that momentum is not yet positive, with price still below trailing ATR resistance at the 27000 point barrier – the bottom is not yet confirmed:
