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 TECHNICALS
China ETF (GXC): Near Breaking the Great Wall of Resistance?
March 14 2016 ​( From TradingView )
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​​The Situation
​
​In these uncertain times, it is interesting to look the behavior 
​of ​the ​Chinese Stock Market (SPDR S&P China ETF GXC).

​​The China ETF (GXC ETF) is still trading within ​a ​Major
​Falling Wedge Pattern that started back since ​May 26 2015.

On March 10 2016, we had the 20 DMA (Day Moving Average - 
​Yellow ​line - 1rst chart below) crossed above the 50 DMA 
​(Red Line - ​1rst chart below​)​: a good technical sign for the 
China Stock Market​.​

​We are now testing the Resistance Trendline of that Falling ​Wedge​​. (See first chart below - Thick red trendline)

​​The China ETF (XGC) started to outperform compare ​to ​​the ​Mighty SP500  (SPY ETF) since February 12 2016 ​​and ​the ​20 DMA (Day Moving Average) on that ratio ​turned ​south ​on March 1 2016. 
​(See second chart below - Yellow Line).

​​​We are near a break out on a relative basis. ​​(See second chart below - Thick red trendline - Ellipse)

But the most interesting technical factor is that at a time we are testing the Major Resistance Trendline on the GXC ETF (price wise and on a relative basis), China’s currency exchange rate against the US Dollar (USDCNY)
is at the Major Support Trendline that started back on August 11 2015.
​(See third chart below - Top Panel - Thick Red Trendline -Ellipse )​. 

To say the least, ​​China ETF (GXC): Near Breaking the Great Wall of Resistance...








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China ETF (GXC): Near Breaking the Great Wall of Resistance?  $SPY,  $USDCNY #Trading #investing #yuan #SP500




China ETF GXC
Daily Candles​
​20 DMA ( Day Moving Average - Yellow Line )​​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​




DAILY
​YUAN (USDCNY - Candles - Top Panel )

SP500 Index ( BARS - Bottom Panel  )


Financialiceberg.Com


Financialiceberg.Com




RAIO
​China ETF GXC
over SP500 Index (SPY ETF)​
Daily Candles​
​20 DMA ( Day Moving Average - Yellow Line )​​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​




Financialiceberg.Com