I published on 3rd Aug that I am looking at the support of around 14450 for ChinaA50 (representative of Chinese market of top 50 stocks). So far, the support has been holding.
In fact, I am getting more convinced that the Chinese market has found support (although another retest of 14450 is still possible until a trend is safely underway) and is getting more optimistic about China market.
This is because, besides TA, there is just so much pessimism and skepticism about the Chinese market right now and this is usually when the bear ends and a bull quietly begins... That said, it may still be another couple of months away before any optimism become more apparent.
Ok, this is just my theory and years of observations of the market.
Let's see how it plays out!
p/s I'm accumulating some CQQQ (Chinese Tech ETF) for mid to longer term play.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
In fact, I am getting more convinced that the Chinese market has found support (although another retest of 14450 is still possible until a trend is safely underway) and is getting more optimistic about China market.
This is because, besides TA, there is just so much pessimism and skepticism about the Chinese market right now and this is usually when the bear ends and a bull quietly begins... That said, it may still be another couple of months away before any optimism become more apparent.
Ok, this is just my theory and years of observations of the market.
Let's see how it plays out!
p/s I'm accumulating some CQQQ (Chinese Tech ETF) for mid to longer term play.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)