I see a lot of interest on my Bitcoin vs U.S. indices fractals and that motivated to make more seemingly 'odd' comparisons that end up to interesting findings.
One such interesting finding is the comparison of Bitcoin (orange trend-line) to the Shanghai Stock Exchange (black trend-line). Everyone in the crypto world knows how strongly the Chinese government has...
SSE ( Shanghai Stock Exchange ) chart. Shown it might completed its long term "Bullish Triangle" pattern. The Western media especially U.S Media have been debating China's Doom since many decades ago to recent "comparing" U.S Lehman brother with China's Evergrande .By checking SSE and SP500 chart.. Maybe The American should be "more worry" about their own "backyard"..
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!
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...
📌 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...
