By Chris Becker
The USD gained strength overnight, with equity markets moving higher in Europe and then dragging Wall Street along with it as Trump suggested/lied about a possible “new” deal with Chyna. The Brexit chaos continued however, with Pound Sterling falling back on a possible confirmation of a delay on the exit, but its still all up in the air!
Looking at the action on Asian markets yesterday, where the Shanghai Composite eventually stabilised going into the close, gaining a handful of points to be at 2939 while the Hang Seng Index also tread water as it fights resistance overhead at the 27000 point level, closing a few points higher to 26725 and not looking energetic at all on the daily chart. Resistance at 27000 is now firming despite growing momentum, with price levels to key to playing this market beyond the short term:
