By Chris Becker
Stock markets continued to rise overnight despite big falls in oil prices and other commodities, as Western nations continue with their plans for early lockdown releases in response to the impact of COVID-19 on economic life. The supply shock of oil has seen WTI fall back below $14 or over 25% as producers scramble to shut down wells in the US. The BOJ has committed to unlimited bond buying as deflation sets in among worrying signs of a second wave of infections.
Looking at Asian share markets from yesterday where the Shanghai Composite closed 0.25% higher at 2815 points while the Hang Seng Index surged higher at the close to finish up nearly 2% to 24280 points, as daily price action bounces off the recent daily lows. Daily momentum has switched to a positive mood here with resistance overhead (short black line) at the 24600 point level yet to be breached, but getting ready for a breakout:
