A multi-year ascending triangle has been completed, with markets all the way up to 30,000. This is a major bull market. Purchases at a retest level of 15,000 are recommended.
Weekly chart multiyear resistance breakout three weeks ago and now we got the retest. If 15000ish holds, very bullish MT imo. Besides technical, also like the bearish sentiment on China recently.
With the rapid rise of China's stock market today, the early long A50 profiteers have closed their positions in batches. We can see that their sell-off did not cause a panic drop in the market, which means there is enough buying power.
My suggestion: set up long positions of A50 futures in batches, some of which are held for a long time, while others can...
China A50 Index breaking aggressively to new highs may be a signal that the melt-up in risk assets is just beginning. With the mainstream press and banks issuing buy recommendations on the stock market, the frenzy is likely to push this even higher - 19,500 is within sight!
We are in the century of Asia. Whereas the 1600s-early 1800s were a time for Western Europe and early 1800s-2000 belonged to the U.S., the future will belong to Asia. The Chinese stock market is preparing for the next massive advance to reflect this.
