WealthAdvisor

China.... Still struggling

Short
NASDAQ:MCHI   ISHARES TRUST MSCI CHINA ETF
Technical indicators all pointing downwards. Ripe for a short or for the putting.

Happy trading!

Comments

But on the 5 year chart, this seems to be approaching a very long term support.


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royousz01 royousz01
I am pretty new so apologize in advance if this analysis seems a bit simplistic.
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WealthAdvisor royousz01
@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.

Have a great week!
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royousz01 WealthAdvisor
@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.
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WealthAdvisor royousz01
@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
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