China's situation: Bearish outlook and global turmoil
Updated
In the recent turn of events, the focus of everyone has been shifted to the terrible terrorist attacks that occurred in Paris where countless innocent people were killed, all of a sudden.
I don't want to raise fingers and point at anyone, but it draws my attention to the recent bearish scenarios presented in most stock indexes around the world, where a very grim outlook has formed.
Today I will focus on China, the oil futures and Sinopec's chart. I have given timely signals to short these instruments, see related ideas, and it's now clear that my forecast is valid and en route.
I'd like to condemn these events, and pray for the families of those who were sadly killed, and for a peaceful resolution to all this turmoil, which I fear might not end well.
In this more serious note, I'd leave you with my forecast for these instruments, I fear this is very much alike 2001, too much for my liking.
Regards,
Ivan Labrie.
I don't want to raise fingers and point at anyone, but it draws my attention to the recent bearish scenarios presented in most stock indexes around the world, where a very grim outlook has formed.
Today I will focus on China, the oil futures and Sinopec's chart. I have given timely signals to short these instruments, see related ideas, and it's now clear that my forecast is valid and en route.
I'd like to condemn these events, and pray for the families of those who were sadly killed, and for a peaceful resolution to all this turmoil, which I fear might not end well.
In this more serious note, I'd leave you with my forecast for these instruments, I fear this is very much alike 2001, too much for my liking.
Regards,
Ivan Labrie.
Note
I'm not connecting China to terrorism like some poster here implied.That's not what I meant at all. Just that when big moves happen, suddenly terrorist attacks occur...it's a strange coincidence and we'll see if I'm right if global equities take a turn south.
Note
If we see a new weekly high, then we might see a rally.Monitor it.
Note
Crucial week to determine direction.Note
Posted updated XGY0 chart. This one's still valid as well.Note
How long can the government support the A shares? According to my mentor Tim West, this Friday, we might see a very significant event for stocks (US in particular). For more information check out his 'Key Hidden Levels' chatroom.Note
On track.Note
It's likely to see a rebound in all these markets, oil hit a strong support and the stocks are reflecting it.Note
Crude and copper and gold turning around are helping Asia.Note
On track.Note
Let's see if the Chinese stocks reach my target.
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