[Long Idea] Tencent wedge

Here we have a pretty sizable descending wedge, that may or may not break out. There is a positive divergence against MACD.

I think it will break out eventually, with central banks starting to ease again now that the Dollar is weakening a bit.

Tencent is the third largest holding in EEM, which has been looking bullish lately.

Comment:

Got a breakout today, but everything was a little weak with S&P selling from the open.

Heiken Ashi shows this chart pattern very well:

We could possibly see a very bullish move soon especially if we work off some of the euphoria in the markets.