AFTY: China A50 down from here onwards
Updated
It appears like the Chinese A-shares have hit the top and will go back down to the recent weekly uptrend mode.
If we next week plots a new low, we will have confirmation of a potential sharp decline to ensue. It's increasingly likely that is the case, after getting overbought readings and battling to cross a low volume resistance level on chart. A similar situation can be observed in the CNHUSD and AUDUSD chart. If we inspect oil, which looks toppy here, gold, copper and other assets, I think it's likely to observe a drop in dollar denominated assets accross the board.
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Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
If we next week plots a new low, we will have confirmation of a potential sharp decline to ensue. It's increasingly likely that is the case, after getting overbought readings and battling to cross a low volume resistance level on chart. A similar situation can be observed in the CNHUSD and AUDUSD chart. If we inspect oil, which looks toppy here, gold, copper and other assets, I think it's likely to observe a drop in dollar denominated assets accross the board.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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