Bottoming seems almost complete after alow amplitude impulse from the bottom into a light correction. Chinese economy has suffered tighter conditions than the US and has made space to loosen, all the while the US gets to grips with what has been coming for a long time now. Stocks like BABA seem to have found a bottom and Evergrande/RE news has also 'Bottomed'....
A50 - Monthly
Recent factors impacting the Asian markets, have included worries of financial system contagion from a deeply leveraged Evergrande , regulatory crackdown across several industries, and continued trade tensions. Nevertheless, one is beginning to see some indications of a bullish bullish divergence on the charts
Break and Retest - Prices are likely...
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Keep In Mind ❗
🟣 Purple structure -> Higher TimeFrame Structure.
🟢 Green structure -> Daily Structure.
⚫️ Grey structure -> 4h Structure.
🟡 Yellow structure -> <4h Structure.
Important : Please Use RM (Risk Management) and MM (Money Management) If You Decide To Use My Ideas, There...
I published on 3rd Aug that I am looking at the support of around 14450 for ChinaA50 (representative of Chinese market of top 50 stocks). So far, the support has been holding.
In fact, I am getting more convinced that the Chinese market has found support (although another retest of 14450 is still possible until a trend is safely underway) and is getting more...
CN50USD - Still has further to fall to break the UpTrend.
Unfolding Evergrande crisis may take up to 12 months to fully blow up as crisis that takes the World's economy down..
Like the LTCM or Subprime crisis, took 12 months to fully realize as the Asian financial crisis and GFC respectively.
Contagion risk is just too great. Evergrande has no update after 2 days of halt is over and this technically triggers the SUSPENSION status under HKex rule. China stocks' overleverage is a systemic issue. Those banks that made the decision to lend, did so under provincial officials encouragement, who are 'encouraged' are the developers. Everyone win-win. Now the...