By Chris Becker
US markets were closed for thanksgiving overnight, leaving other risk markets to their own devices as the Chinese reaction to continued pressure on their oppression in Hong Kong made a small impression. A lack of further economic releases of any import keep risk aversion contained to a slight dip in European stocks while only Pound Sterling moved higher against USD.
Looking at the action on Asian markets yesterday, where the Shanghai Composite slumped after putting in a series of scratch sessions previously, retracing over 0.5% to be below the former 2900 points resistance level at 2889 points. The Hang Seng Index also fell back, but only by 0.2% or so to remain below its own resistance zone at 27000 points. The daily chart was tentatively bullish but no firm technical signs of a sustainable trend or breakout here as price remains stuck between the moving average band:
