By Chris Becker
The start of the trading year was much better in the Northern Hemisphere overnight, with Wall Street rallying as tech stocks pushed the risk complex higher, despite a reversal in strength in USD which saw Euro and Pound Sterling fall. Gold prices continued their uptrend while Bitcoin remains depressed below the $7000 level.
Looking at Asian share markets from yesterday where the Shanghai Composite advanced over 1% to 3083 points, helping consolidate well above the previously long held 3000 point resistance level, while the Hang Seng Index gapped higher and did even better, up 1.2% to close at 28543 points, remaining well above the previous October 2019 highs. The daily chart shows hesitation has been completely swept aside as new highs above the previous resistance level at 28000 points and the high moving average indicate a very strong bull run here:
