The US ban on TSMC manufacturing for Huawei will be a major problem.
TSMC is the leading manufacturing for the most advanced chips and if china does not get access to it, it will cause a domino effect.
Huawei supplies a variety of electronics to large companies and countries including next generation 5G base stations.
China is also the largest market for chips ( sold by the biggest US companies). Now if china retaliates with restrictions imposed on US companies to sell semiconductors in china it will have a massive impact .
The race for 5G supremacy & Space dominance will cause more of these tit-for-tat moves from either side.
Weekly coming out of oversold regions.
Large volumes being traded indicating high interest among traders.
in territory still but looks like it is trending towards . Will have to watch these indicators closely.
This is a short term trade.
This is not financial advise. Please do your own research.