Stock Markets Analysis and Opinion
China’s Shanghai Composite Stock Index Nearing Decision Time
2023.08.28 16:13
China has the world’s largest population and second-largest economy, so it’s always wise to keep an eye on the Chinese economy and stock market.
Today we look at the latter, eyeing up a 10-year indecision pennant pattern on the .
As you can see, the lower highs (red arrows) and higher lows (green arrows) have guided this pennant pattern into an ever-narrowing squeeze. There is not much room left here, so we should expect a decision soon.
Will it be in the form of a breakout (higher) or breakdown (lower)?
In my humble opinion, when the world’s largest country decides its next big move, it will be important to the world. Stay tuned.
