By Chris Becker
Markets were kept guessing again overnight on the direction or implementation of the December 15 China tariffs with a clawback of Friday nights exuberance on both sides of the Atlantic. Currency markets were quiet alongside bonds with Wall Street slipping on the lack of any good news, although Pound Sterling rallied as the potential return of the Tory “government” in this week’s election firmed.
Looking at the action on Asian markets yesterday where the Shanghai Composite closed only 2 points higher, still remaining above the 2900 point level it broke on Friday, but only just. Meanwhile the Hang Seng Index did the same with a scratch result to finish at 26510 points. The daily chart is showing tentative signs of a probable swing play back up to 27000 points but price is still looking bearish overall as it has several resistance levels to beat before getting back to a positive frame:
