So what do we expect to see tonight? Equities are a sea of read across Asia/Pac, however not nearly to the extent of what we saw in the US & Europe overnight. Gold is just above a key support level of $1275/80 & not that I'm a TA guy, but the chart doesn't look that flash to me. Fundamentally I would expect that level to hold, or perhaps break, but quickly bounce back over. The former is more likely I would think as at this key support level I suspect a few will see it as buying opportunity. Equity markets I suspect will be flat to negative, this rout has only just started but nothing goes up or down in a straight line.
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Dusko Ljubojevic, MD
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