China Breaking Down, Sends Fresh Bearish Message To World Stock Markets
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The global equities market has been in a tailspin this year.
But could it get worse yet?
Today we look at a very important piece of the global equities complex: China.
Today’s “monthly” chart of the China large-cap ETF (FXI) highlights the risk that China may be breaking below a 10-year price range (blue shade area). It is already trading below it… but we’ll have to watch the monthly close. Further selling would indicate a retest of the 2009 lows is underway.
This may explain the recent bubble-up in volatility. Will there be big trouble for big caps in China? Stay tuned!
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