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


*as things are, China is currently seeing the first net monthly gain since May.

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.

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.

Goodnight from London