China bash... it ain't over...
Of late, Chinese stocks had been bashed and a downside target was set as a Buy Zone. The thing is, the GXC nicely bounced twice by huge gaps (see the orange rectangle), and appears to be clocking two lower lows. Of interest is the current lower low to be... said so as a gap up marubozu is typically bullish, but was transformed into a bearish harami.
This happened just short of closing the larger initial gap (uncolored rectangle), and appears to have closed the gap and re-opened it, suggesting ominous bearish outcomes.
Technicals below do not show strength, suspect of a hidden bear.
Taken altogether, there is likely a revisit to the last lows.
This happened just short of closing the larger initial gap (uncolored rectangle), and appears to have closed the gap and re-opened it, suggesting ominous bearish outcomes.
Technicals below do not show strength, suspect of a hidden bear.
Taken altogether, there is likely a revisit to the last lows.
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