The China A50 index (click here to see its components) has been trading in an ascending triangle consolidation pattern for the last 5 years.
It broke out in July 2020.
From July - October 2020 it's been trading tightly inside a bullish pennant. The last few weeks it's shown relative strength in a relatively weak environment, and now looks to be firmly breaking out of the pennant pattern.
Zooming in on the 4hr chart here's what we're looking at:
I always prefer horizontal resistance and it's looking good here too:
I have a position
What Is a Secular Bull Market? A secular bull market is a market that's driven by forces that could be in place for many years, causing the price of a particular investment or asset class to rise over a long period - a trend that lasts 5 to 25 years.
Comment
⋅
New highs and breakout in China. Very simple trend line in blue to buy dips:
Comment
⋅
China's at the beginning of a massive bull market. You read that correctly - beginning. Not something to be ignored.