$China Stock market bullish trend Follow Up

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$China Stock market bullish trend Follow Up

Weekly is the weekly chart provided by eSignal.    June 2015, the China peaked at 5410.   Afterwards, the market went down drastically all the way to  Jan 2016 where it bottomed at 2768.    That was a drastic move down in a short amount of time.

After it bottomed, the market has slowly been moving up.    Since the move has been slow, bullish momentum has not entered the market long term.

Last month, we published this chart where it got to the breakout level.

Price has not followed through yet.    It is stuck at a resistance of 3532.28

Here is the currently weekly chart:

Since the instrument has not followed through after the hitting the breakout entry, we will be monitoring the 240m and daily time frame to determine whether to stay in this trade long term.

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