KWEBI believe, for sometime KWEB should take a pause for a brief time:
1) The current price is right at the resistance zone on the weekly chart ($31.xy to $32.nm) - We can see many times in the past the price has turned back from these levels.
2) 50 ema on weekly chart is right at the resistance, working as double resistance for the price move.
3) Dragon fly doji at the resistance means zone of strong supply.
4) The rally has been a swift and strong, now it is a few weeks old for next round of healthy run it should take a pause.
Bull:
1) RSI is healthy.
2) A support is at $28-$29ish
3) Standard Deviation is higher than its previous peak and heading higher
4) Once the pause is over, next pause should be at around $38.50ish
Conclusion: Overall view on KWEB is positive. In a short term the KWEB should take a pause, possibly fall a bit, before starting to run again. If the drama around possibility of US ban on Chinese stocks ends and the Zero COVID policy is lifted, then 2023 will be the year of Chinese Stocks.
PS: I am new to analysis. So, do not forget to do your own research, make your own decision, you are responsible for your trades. I welcome inputs to improve my analysis. So, please share your knowledge and guide me.
MCHI
E7 CountriesI’d like an ETF for E7 Countries, holding their ETFs (Brazil EWZ; China MCHI; India INDA; Indonesia EIDO; Mexico EWW; Russia ERUS; Turquia TUR).
Theses countries has been more GDP upside than the G7 Countries. An this must go on.
*** The Russia ETD was excluded for the “index” because it isn’t been working on.
I’ll include the ETF ERUS after the war.
MCHI CHina PennantThe Chinese keep pumping futures, here's their chart using MCHI ETF which gives us a clearer picture because it accounts for currency.
Big pennant, I guess we should all have seen that....
So I'm guessing next week is decision time, possibly Monday. Virus cases over 1 million, rising exponentially....
www.worldometers.info
v.1.1 May 2019 Recovery from Market Dip Thanks to Old CommunistsRecovery from the 2019 May dip in global equities markets from the hard work of Communists (current and ex)... ? China equities and the Chinese government actions on the Chinese yuan ( CNY ). Russian equities and the Russian ruble (RUB). And also JPY and Gold.