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The inescapable face of China

Daryl Guppy
Daryl Guppy • 6 min read
The inescapable face of China
In China, the host loses face at a relaxed, informal dinner if you request an extra bottle of wine, as it suggests he is not attuned to your needs / Photo: Bloomberg
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There are three key features of the Shanghai Stock Exchange Composite Index. First is the temporary resistance level B near 3,883. The market is poised for a strong breakout.

The second feature is the value of trend line C. This is now the primary support level for the rising trend.

The third feature is the long-term trend line A. This is a fallback support feature which is also currently aligned with the upper edge of the long-term Guppy Multiple Moving Average (GMMA). Taken together, these three features are bullish.

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