2 sides of a coinAmong the 3 major China indices, HSI, SHCOMP and CN50, it is the latter that dropped the
most from its peak. It has fallen more than 10% from 14695 in mid Jan this year.
With the coronavirus that caused much uncertainty in the market, all indices globally, oil, stocks , etc have been impacted as well.
If you know how to short-sell , then you probably have made a handsome profits. For those who are late at buying a piece of China, then this is an opportunity to get in.
I will wait a while more as the virus news is still ongoing and people are fearful, driving bond prices up, gold price up and yen as well.
I have indicated two possible support level, 12618 and 12936 that I think it might revisit before a rebound. Of course, it might be worse than this, nobody knows.
Depending on what was your entry price, some of you may want to take profits and buy back at a later time.
Trade safely, always use a SL and employ risk and capital management .
