We could see this begin to move up significantly starting tomorrow, the MACD has crossed bullishly and we closed above the ascending triangle.
The SCI wiped out the four months of gains in just two days. In addition, it broke support levels and is leading towards a lower target about 3,200. All these on the back of regulators setting new rules for the game. Also understand that street talk tells of margin calls too. Technicals are just turning down, so that -5% may just be a beginning. HODL!
Price is retesting the upper channel (after breakout). I'm waiting for a green daily candle before adding to my position.
A possible Trend road map.
Down move is expected as C wave to bigger correction. Wait for HOURLY flag to complete then sell the breakout. Thanks _/\_
SSE would be a golden chances to Long. It is a clear uptrend started from last bottom, March 2020.
TVC:SHCOMP As we already know that last Friday after long china holiday the market are resume with rise 54.02 point to 3270.076.So it has stopped the downtrend but will it turn to uptrend ? My opinion if need turn to uptrend then it must break its 1st resistant 3338, second must close above 3358. Then i believe it start the uptrend.If the 2 price i mention...
Detail @ The Chart
📌 A quiet few weeks and enjoying the last few days of summer before things get very active in markets for the rest of the year and into 2021. Global Equity buyers received their reward for their braveness play: overshoots are a weakness. See diagram below. The mysterious 2650 lows were held from the Giant Panda (PBOC), when retail threatened the...
Looks dangerous... breakdown below 3350 is spelling trouble in uppercase. MACD is not committed but has downside bias. Watch 3350 and then 3300 levels.
After a 24% rally in their stock market from the start of July, the Shanghai Composite index saw a sharp reversal down 17% as data shows a patched recovery in China. Bloomberg reporting industrial output was lower by 1.3% while retail sales plummeted 11.4%, showing strong weakness in the consumer, which use to be the backbone of many economies. Michelle Lam,...
SHCOMP has formed a Golden Cross on the 1D chart turning vastly overbought (RSI = 89.841, MACD = 105.710, ADX = 52.201). Last time that took place within the long-term Channel Up that started in January 2019, the market consolidated for a few days and delivered a last peak in a month. The MACD has entered into this red Resistance Zone of the 2019 consolidation, so...
📍 In this position, after clearing the knee-jerk reaction from covid flows we are starting to enter into chapter II, heavy protection. The flows have shown strength in drastic fashion; the apparently bottomless wallet of keynsian economics - suddenly showing a surprising amount of animation! You can see the impact of PBOC on Chinese Equities here: ...and now...
TVC:SHCOMP gave a triangle breakout. We advise you to buy on dips from now on.
Shanghai Comp Index has been on a tear but we are now at a decision point. It is very likely that the sudden surge in this index helped BTCUSD break out of indecision. Regardless of the next move in this index, I expect BTCUSD to advance and complete the move towards $9.4k or higher before the downtrend ensues.
There's been a strong move higher in Chinese equities to start the new week with the Shanghai composite gaining in excess of 5% to hit a 2-year high. Price now firmly above the 200 week SMA and could be well placed to rally further. A long position with a fairly wide stop (around the 200 SMA, so 3000 for now) seems attractive.
Shares are breaking out to the topside of a long term triangle pattern Long term bottom established at 2650 support