China market index trend line support, and a large candle stand on the success of 144 and 169 above the average, the next target can see to 3500
Comments
Victor.Y.F
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Thank you xiaoduan! But I have different point of view. EURUSD has negative correlation with this index and also from lagging time with XAU this is gonna down to 2271, the same Fibo 0.786. A final squeezing will be happening. If we break 2638 low then it'll down to 2200-2300 for a big bottom to buy. Watch the 10 months SMA support from Shenzhen and Chuangyeban for more clues. More easy way to confirm the trend is there are 2 months close above 10 months SMA and with huge volumes. Shanghai Shenzhen Chuangyeban are all stand above the 10 months SMA. It's too early to call this, I think it maybe after June 2017. The first hike from Renminbi is a hit too, because the purchasing power needs time to bring the inflation up. The hike could be at 13. Mar. 2017.
Victor.Y.F
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correction: 0.786 fib is around 2715. The inflation is too high now it needs a pullback.