China A50Long
Too big to fail - CN50
Updated
caixinglobal.com/2019-11-08/msci-increases-weighting-of-china-a-shares-in-indexes-to-20-101480903.html
Billions of dollars will start to flow into this index , allowing more foreign investors to participate in it. This is good news for all as news of China opening up its capital market is moving in leaps and bounds.
Some of us may missed the bottom when it was at 10,000 in 2018 but no point crying over spilt milk. If the weekly top at 14,835 is to be hit again and beyond, then, that is another 800+ points to profit from.
See you at the TOP
Billions of dollars will start to flow into this index , allowing more foreign investors to participate in it. This is good news for all as news of China opening up its capital market is moving in leaps and bounds.
Some of us may missed the bottom when it was at 10,000 in 2018 but no point crying over spilt milk. If the weekly top at 14,835 is to be hit again and beyond, then, that is another 800+ points to profit from.
See you at the TOP
Note
It appears there is some level of support at 13718 level and is shoring the prices upwards. Need to break the resistance of 13850 level to hit higher.Note
Praise the Lord, thank you for your continuous blessings to us! Price level is now at the resistance level of 13897. If there is no surprises today and over the weekends on trade deal (marketwatch.com/story/trump-declares-big-deal-with-china-very-close-as-he-meets-with-trade-team-2019-12-12?mod=home-page), then we can expect the price to continue to surge higher.
Note
Knowing how China play the PR game in this US-China trade deal, their way of communication is indeed different from the West. scmp.com/news/china/diplomacy/article/3041984/china-commits-trade-deal-it-must-be-mutually-beneficial
This good news probably drive the price action towards the resistance level of 14099 but it retraced strongly with a bearish engulfing candle.
Let's wait for price to close above the 14099 before initiating our buy position again.
Note
Praise the Lord. I hope some of you had followed and made some good profits. A very strong bullish engulfing candle pierced through 14099 , the support level , retraced at 14198, taking a rest now before going the next rung.
Expect 14400 to be met with some resistance.
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