In China, the Shanghai Composite endured its worst week since October, demonstrating the influence that Beijing continues to yield over its markets. The index lost 5.6% for the week after the government signalled that it would pare back support for the economy amid evidence of a recovery. The index has lost all its gains after breaking out of a bull flag earlier...
The chart and what is behind the chart tells us a story.
The CSI 300 Index of equities traded in Shanghai and Shenzhen sank 2.3 percent on Monday, its biggest loss in a month, with five stocks falling for each that rose. Property developers led the plunge, along with companies reliant on consumer discretionary spending and so-called old economy shares such as banks and industrial companies. After the CSI 300 surged...
The SSE closed lower for the week at 3,188.63, and may be forming a second, smaller bullish flag; the market could be gathering steam before making a push towards 3,320-30 resistance.
Get fucking long, 5G all the way. Strong FA an TA.
Look at the daily chart, I originally thought 300324 will be rejected at a strong resistance level at around 8.6 when it had a strong bounce off from the low of 5.12. However bulls surprised me and pushed it up to 9.5 price range, and then hard rejected it back to 8.6, by forming a tweezer top pattern. Then 8.6 becomes a crucial price level that the price was...
All of the technical symptoms shows that step by step recession is the most probability which can take place.
Short-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...
beautiful bottom patten, expect a rest here and get higher!
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