Short

Time to go shopping in Shanghai

Updated
The price action has just broke down from the symmetrical triangle (which can go either way - up or down). We do not know if this is a genuine breakdown or fake one so we have to see next week (time is of essence). It could very well play out as I draw on the chart or do a 90 degree trend reversal and go back up.

It is a short term sell for now.
Note
if you have sold, do nothing.
If you want to buy, wait.
If you are not sure what to do, follow my charts and analyse, ask questions and learn. If you want to trade, trade small.
Note
we initiate a small buy position as the price returns back to the triangle or bullish trend line.
Note
We believe the deal for the US-China trade agreement will be signed before or on Sunday and this would gives a boos to this index.

And this could possibly be a gap up or aggressive move , thus we are entering now than later.
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Praise the Lord. Congrats to those who followed.
Note
Panic with the red candles ? Not at all. Unless the price returns back to the triangle and hit below (price 2922.57 and below) , I am not worried yet. Let's see if a rebound today or tomorrow will turn the situation around.
Note
Praise Lord. For those who held on the panic ride, you are duly rewarded.

Now we see some resistance at 3038 level , this is the 4th attempt if it can break above. As usual, take your profits , partial or full depending on your time horizon,risk appetite, etc.
Chart PatternsTrend Analysis

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