#SHCOMP 12 years breakout seem to have taken place. If it sustains then upside could be 6000 on this index & may have super bullish impact on commodities too despite recent rally.
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Shanghai Composite is trading in a range for the last six months since the previous break in early July 2020. The price action last week was bullish and index may finally break out on the bullish side of the channel.
Even the Chinese markets didn't take the virus seriously till 14th Jan'20 and opened 9% Gap Down in Feb after Lunar New Year Eve Holidays.
That should've been alarming for the global markets but markets didn't fall till mid-march as Shanghai started recovering in the hopes of finding a cure.
But that was just the tip of the iceberg for the global markets. Once the...