Western Indexes low yield, low growth from a prolonged contraction via pandemic and weak economic growth, go East young man/woman.. go East!
Shanghai Composite index... giant sideways consolidation, Triangle, channel.. may see more sideways before a breakout, but once it does.. it will outstrip any North American or Europe Index.
Add to the fuel China's...
If you're allocating capital at a global level, then here's chart that may be of interest:
I've been flagging Chinese equities since Dec-2020 as well as Dec-2019 at 2984 - (see link to related idea) and although it's lagged year-to-date relative to its global peers, I think things are finally starting to move.
My previous comment as follows: "China's Shanghai...
Hello everyone. Shanghai composite index has been weak for the past few days. Actually, we recommended clients to take profit last week based on momentum and formation structure.
Now, the nearest support zone would be 3503-3496. After the gap being filled, the index might get some momentum to go up.
What do you think? give me a like you're with me.
My trouble zone worked with CSI300 started to fall since last Tuesday. Obviously it's a fake breakout. However, the breakout also created a higher high. It seems to be a range.
Now, the current level is about 1.5% away from previous low zone. In my opinion, the previous low area is a pretty strong defense zone with the higher high and same low structure ...
Friday is a good day for Chinese bullish buyers, however, it's approaching key trouble zone next week with supply zone & MAs ahead.
I'm expecting a failed try and lower low is likely to happen amid the escalated tensions between China and US.
If the trouble zone can be conquered with strong bullish candles, the possibility of revisit previous high of 3700 is likely.