@royousz01, I appreciate your input. This very well may be approaching a 5 year support level, but this analysis is for the short-term. As it is, China is currently struggling massively and with the trade wars going on, it isn't helping their situation. We might find a bottom here eventually, but as it appears on the daily charts, everything is confirmed pointing down for at least the next few days.
@WealthAdvisor, Thanks for your response. Charts can be really confusing especially for a beginner like me. I think you are right about the short term too but if the trade wars extend, it can be longer term as well.
@royousz01, The chart was telling us one thing, but then positive news started to happen between the U.S. and China having constructive talks about trade, and this has started to reverse. My charts are now bullish on China