Crude oil prices broke through the $83 resistance level which held for 184 trading days to close at $84.25 on 9th August 2023, and since then have declined back towards the $79 support level at the time of writing.

Caution was the name of the game on Wednesday as more disappointing Chinese economic data left investors on edge. Our focus falls on the global equity space with the tool of choice none other than technical analysis.

The mood across Asian markets brightened on Tuesday as China’s pledge to shore up its weak economy lifted sentiment and boosted Chinese shares.

As we had cited in our article dated August 22nd: “… September’s seasonality may spell more trouble ahead for Bitcoin bulls.” The world’s largest crypto is already down by about 1% so far in September.