By Chris Becker
European stock markets led the charge overnight as Wall Street was relatively flat, despite a big lift in oil prices as US inventory data surprised to the downside. Other commodities were largely unchanged with gold not moving alongside iron ore while the USD weakened against most of the majors with Pound Sterling spiking again as the Brexit deadline extension seems more likely.
Looking at the action on Asian markets yesterday, where the Shanghai Composite was unable to get back on track from the previous steady session and fell late in the session, down 0.4% to 2941 points, remaining well below 3000 points. The Hang Seng Index did even worse, closing nearly 1% lower to 26525 points as it finally rejects resistance overhead at the 27000 point level. Again, short term possibilities have not yet outweighed the longer term depressed setup:
