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
China Stock Market starts to rally The Shang Hai Composite just broke long term tri-angle consolidation and break 3000 important resistance level If you can invest China's stock market, dont' miss it. Target 3400/ 4200 / 5200 For MT4 users, Choose Indicies CHINA A50 For US STOCK Investors, Choose China Concept Company
China commerce ministry says production of auto, auto parts have fully resumed. China continues the narrative that they are back up and running. It should lift off some pain from the market and we probably have some retracement upward if market players are optimistic.
A bloodbath across most of Asia with SHCOMP managing to hold via PBOC intervention. Actively sold the Tokyo close as red alerts have been triggered across Global EQ Index. Those familiar with the current technical flows we are tracking will remember the PBOC dip; it was a classic example of CB intervention in attempt to stop the bleeding. The issue is that...
We have a very large descending triangle on the monthly! Playing this out will depend on some continuation of negative news (such as Coronavirus vaccines not working), global recession, etc. The Chinese economy is on the verge of recession, they have a fake economy built on a deck of cards that's ready to fall. If you don't think China is fake as F*&k with...
You would think that eventually this fake ponzi would take dump, technically and fundamentally it should. Here are some key levels to watch $2865, 2785, and 2700. Obviously, I think it could go lower but lets watch these for now. Such a manipulated index. Charting this just for fun. This is not trading advice.
SSE has reached a key pivot point. a conjunction of a major falling trendline and horizontal structure constitute a decision level for the market. taking into consideration current fundamental sentiment, the market will most likely go south! our confirmation will be a bearish breakout of a rising trendline! incase of a bearish breakout the market will reach...
Hi Guys, here the allocation of some events that impacted the Shanghai Composite Index (as well as worldwide financial markets): 1) China became a member of the World Trade Organization (WTO) on 11 December 2001; (en.wikipedia.org) 2) Financial crisis of 2007–08; (en.wikipedia.org) 3) 2015-2016 Chinese stock market turbulence; (en.wikipedia.org TO NOTE:...
Again? Yes, the Shanghai Composite had a massive Gap Down after a two week Chinese New Year break due to the COVID-19 (SARS-CoV-2) outbreak in Wuhan, Hubei, China. Since then, week after week it made momentous recovery up to close the gap this week. While this is seemingly bullish, and is technically starting to pull the MACD bullish, I call a bluff. Here is...
Hi Guys, the causes of the drop occurred back in May 2019 are different from today's drop due to COVID2019. They both produced a gap down but whilst the first took two months to be filled, the latter took two weeks as it has been filled today. For information about gaps: www.investopedia.com What type of gap is the present one? Please add your comments and if...
I apparently forgot the #1 rule in investing that has remained true since the financial crisis: don't bet against global central banks and their ability to maintain economic(stock) expansion. The PBOC has injected enough liquidity during this coronavirus outbreak to ease all trader fears of a market decline which has led to price filling the gap that was created...
Confluence of resistance here. Worth watching to see if straight-line DCB continues and #PBOC liquidity pumps remain effective
As usual thanks for keeping your support coming with likes, comments and etc... Lets get started with a round of important chart updates coming today (which btw is extraordinarily late after a week ban). I would like you to note the position arising here looks as though its "business as usual" for the dip buyer crowd, whereas sellers are seeking salvation in a...