Just a bit of fun but they sure have a few similarities comparing the Shanghai composite to the Nasdaq composite. The blue overlay is the Nasdaq composite index from 1990 to the present day. Could history repeat? No idea. But if it does, I won't miss the train.....
China SH composite is approaching 2016 low at 2638.
Adding the background the BOC raised the forward reserve requirement for foreign exchange and RMB surged.
If look at the down side, 70 pips to drop/-2.5%, will possibly see a resistance showed at the 2016 retracement low @ 2638.
Personally also considered it as the psychological support of investors.
Hope the...