By Chris Becker
News of a delay in a potential US/China trade deal is causing Wall Street to wobble again as a quiet session without any other catalysts apart from a spike in oil inventories keep risk taking low. European markets advanced slightly on a slight tickup in service PMIs, while gold and oil remained steady as USD remains strong against the major currencies.
Looking at the action on Asian markets yesterday, where in mainland China the Shanghai Composite closed 0.4% lower to 2976 points, unable to gain any traction as it fails to maintain itself over 3000 points. Meanwhile the Hang Seng Index put in a scratch session, barely closing 0.1% higher to 27688 points after recently clearing the 27000 point level and the weekly downtrend line. The trend still looks strong here, but maybe not sustainable as momentum remains extremely overbought:
