By Chris Becker
A public holiday on Wall Street was enough to take the wind out of the bubble blowers overnight with European markets putting in mild scratch session, while bond markets drifted around. The IMF lowered their growth forecasts in the recent release at Davos while oil prices came back after reaching a new weekly high.
Looking at Asian share markets from the start of the trading week where Chinese stocks have diverted in fortune again with the goosed Shanghai Composite lifting nearly 0.5% to almost start the week back above the 3100 points level, while the Hang Seng Index sold off sharply after almost making a new session high, closing some 0.7% lower to 28848 points. The daily chart was showing continued support as price remained elevated with solid momentum, but this bearish engulfing candle is troubling – watch the low moving average for signs of pressure:
