Tuesday 20 October 2015

China battling to break above resistance

The week started on a mixed note for Chinese equities, with the Shanghai comp' settling -0.1% @ 3386, having briefly hit 3423. A few daily closes in the 3400s will offer further upside to the monthly 10MA.


China, daily



China, monthly



Summary

*as things are, China is currently seeing the first net monthly gain since May.
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It really is a case of whether the SSEC can see a few daily closes in the 3400s... or not. The longer it takes.. the more difficult it will be.
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Looking ahead

The only data of note, housing starts.

*Fed officials Dudley and Yellen are both set to speak tomorrow, but neither appear likely to be of any importance.
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Goodnight from London