By Chris Becker
The relief rally continues as the de-escalation in the US-Iran brouhaha boosted risk sentiment higher, although the recent news of the Ukrainain jet disaster being Iran shooting the jet down will complicate this significantly. Nevertheless, stock markets reached new record highs again on Wall Street, while bond yields are higher and currencies are mixed with Pound Sterling falling on dovish comments from Governor Carney overnight.
Looking at Asian share markets yesterday where the Shanghai Composite zoomed higher, closing up 0.9% to 3088 points, while the Hang Seng Index advanced even further, gaining some 1.2% to be at 28412 points after bouncing off daily support. The daily chart shows price action returning back to the high moving average with momentum is still in overbought mode which should support a continued uptrend:
