Volatility picked up last night after the People’s Bank of China cut a key interest rate and sent the Yuan to the weakest level against the Dollar since June 27, 2017. Equity markets and commodities took a swift hit but battled back in the overnight hours. The S&P traded right into key support at 2789.75-2792 with a low of 2793.50 before recovering to 2806; what a beautifully technical move, we will discuss more in that section below.
From:: Resource Investor