CN50 longterm trendline resisting strongly on Coronavirus fear
Chinese indexes, Hang Seng Index (
HSI) and Strait Times Index (
STI) have been tumbling today on fear of Coronavirus spreading to other parts of China and more countries.
We are reminded of SARS in 2003.
The Wuhan flu virus belongs to the same family of coronaviruses that causes SARS, which killed nearly 800 people globally during a 2002-2003 outbreak that also started in China.
Technicals in CN50 do not look good initially already. With possibility of coronavirus outspread, this might add to more bearish bias.
HSI) and Strait Times Index (STI) have been tumbling today on fear of Coronavirus spreading to other parts of China and more countries. We are reminded of SARS in 2003.
The Wuhan flu virus belongs to the same family of coronaviruses that causes SARS, which killed nearly 800 people globally during a 2002-2003 outbreak that also started in China.
Technicals in CN50 do not look good initially already. With possibility of coronavirus outspread, this might add to more bearish bias.
"Purely educational. Not meant to be financial advice. Copyright Binni Ong"
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