By Chris Becker
A big surge on overnight markets with US stocks making new record highs in the wake of fresh optimism surrounding the US/China trade deal and the run up to the Black Friday retail orgy. Tech stocks led the way while European bourses also had a solid night with more ECB wonkery explaining instruments will be adjusted – read: more liquidity coming!
Looking at the action on Asian markets yesterday, Chinese stocks had a much better start to the week than anticipated, with the Shanghai Composite taking back its Friday losses to close nearly 0.7% higher and back above the 2900 points resistance level. The Hang Seng Index did even better due to the pro-democracy voting result from the weekend, launching 1.5% higher at 27028 points. This puts price back above previous trailing ATR support and test the resistance zone at 27000 proper, setting up for a potential breakout from here:
