By Chris Becker
Another night of mixed sentiment to finish the trading week on Wall Street on Friday with US shares opening higher before settling with a minor bounceback, relatively speaking from their volatile previous session. Other risk assets were largely range bound, unsure of where sentiment truly lies given the surge in COVID-19 cases in the US and other large nations like Brazil, Russia and India. This continues to effect volatility in USD, with gold steady and oil prices falling slightly.
Looking at share markets in Asia from Friday’s session where the Shanghai Composite put in a scratch session, closing at 2919 points, while the Hang Seng Index fell 0.7% to 24301 points. Price is now back at the midpoint of the wide channel that traded throughout April and May and has the potential to fall back below 23000 points if short term support doesn’t shore up soon. Watch momentum to rollover below negative:
