What happened at 11 o'clock this morning?

[TraderMM]

Hi,

Anyone know what happened to cause the sell off starting at 11 o'clock this morning? I can't find any news that could have caused it?

 

[TabJockey]

One thing that's big on my radar is gold and silver prices falling off a cliff.

 

[skc]

Welcome back, volatility. You have been sorely missed.

 

[Logique]

One thing that's big on my radar is gold and silver prices falling off a cliff.

Even Copper looks under pressure, and needs to steady at support around the current.

 

[pixel]

Hi,

Anyone know what happened to cause the sell off starting at 11 o'clock this morning? I can't find any news that could have caused it?

that would've been when China and HongKong opened;
both those markets opened low before recovering.

That took especially our "materialists" down - see BHP and FMG as examples. BHP carries a lot of weight in the ASX200, so the correlation is not surprising.

HangSeng and Shangai have since recovered and trade well in the greenery - which has lifted BHP and the XJO in turn.

Hang Seng:


ASX200:

 

[pixel]

sorry, wouldn't let me attach the correct BHP chart. So here it is

View attachment 40973

I give up. It's not showing either - you'll have to click on it

 

[skc]

that would've been when China and HongKong opened;
both those markets opened low before recovering.

HK and China open at 9:30am local time which is 12:30 Sydney time.

So we jumped the gun a little bit there.

 

[pixel]

HK and China open at 9:30am local time which is 12:30 Sydney time.

So we jumped the gun a little bit there.

Don't forget the Futures: I'm quite sure they open at 8 local time.
I don't have the data (don't subscribe to Asian Futures). Maybe someone else can confirm or contradict.