As the trade talks are headed to their final stage we expect the results of the negotiations to be announced soon. The three major Chinese indices under observation however do not show any trend reversal signs…on the contrary prices got rejected at their resistance levels and are off their daily highs, closing near the lows of the Day.
While the bearish trend remains intact since last February. there are signs that warn bears that this could end soon. My strategy is not to chase the absolute low but to be confident that a major low is in. This won’t be the case as long as prices remain inside their bearish channels and below the Daily Ichimoku cloud.
CSI300 resistance and important trend change level at 3225. SSEC resistance and important trend change level at 2640. Chinext Price index resistance and important trend change level at 1335.
Have a great day everyone!!!