FXI appears to have put in a double bottom and may be setting up for a bull run. At the very least, if the current formation is just part of a corrective flat wave, then we can expect the coming C wave to equal the A wave, putting FXI at 33.
Sentiment is horrible for the China markets. I.e., screaming buy
As long as the CCP is interfering with the price discovery process, the trend will be down. That double-bottom will break down eventually, as it is only Psychological Support at the GFC lows. And don't get me started on the fact that 70% of public investment is in overvalued condos... China's goose is cooked.
That double-bottom will break down eventually, as it is only Psychological Support at the GFC lows.
And don't get me started on the fact that 70% of public investment is in overvalued condos...
China's goose is cooked.
businesstimes.com.sg/international/global/china-tightens-grip-stocks-net-sale-ban-open-close