dchua1969

Clearing 12612 resistance for CN50

Long
CURRENCYCOM:CN50   China A50
If this level is cleared, then we have a higher chance of seeing it closing the gap (see triangle) which has yet to be filled up.

Think about it, China in a way has to thank Covid-19 as after it has manage to contain the virus issue, it is now becoming the go to expert in terms of medical supplies. That brings jobs and opportunities to the people of China who are now resuming back to work and production are gearing up as well.

trade with caution.
Comment: if break and close above, will consider a nibble, else wait
Comment: why i am still not buying ?
it is reported that China may be getting caught up in the opening up of its cities too soon as some factories have to close down again after some workers came back and got infected again. This is not good as China prepares more and more migrant workers to return to the workforce, these are manual workers that are very much needed in many industries. It is a dilemma for the country - if they keep them at home for too long - no income will become a social problem for them. To let them resume work too soon without ensuring the Covid-19 is eradicated, is also a problem. Between holding a burning pot and pan in your hand, which will you choose ?
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