http://www.tradingfloor.com - Risk aversion has marked the beginning of June, with markets paying more attention to the continuing problems with sovereign debt rather than signs of a better economic climate in the US, according to Ole Hansen from Saxo Bank. After the slight recovery last week, oil is sitting close to the $71.50 support and a break below that could see levels below $70 despite a pick up in the US. Gold was one of the few commodities holding up last month and has performed well recently. The only downside risk at the moment is the extended long positions. If the situation in Europe improves we may see the market softening