GXC: China Equities going to break out...The GXC Weekly chart is about ready to break out and take off... just did a best case projection.
This is on the back that the Evergrande saga endgame is delayed, which I think would likely be so... into 2022.
Watch the next two weeks or so, needs to break out of trend line/channel and clear the gap resistance area.
Chinaequities
Hang Seng Set for Renewed UptrendUS China trade war resolution more forcefully impacts Shanghai Composite and Shenzhen Component, but Hang Seng should also see some gains. Moreover, we have seen a bit more progress in the negotiations apparently with tech transfers, tech war. Let's see if it pans out though. For more, check out www.anthonylaurence.wordpress.com
Overall Long on ShenzhenShort-term short, but overall I'm still positive on this index. That said, this can turn ugly very, very, very quickly as the Shenzhen is the most speculative index in Asia for sure, maybe even the world. Definitely the highest volatility. So, if we do see a short-term pullback, this could quickly be followed by 5 percent gains on the day that the US and China sign a trade war deal which is expected to happen sometime in April. Overall though, I'm net positive. And when that trade war deal comes, that's the day I'll sell because I'm not sure what is driving this Chinese market upwards with follow through given the fact that the Chinese economy is still slowing down which should really put into question why we are seeing such huge gains in their three main indexes.