This Bullish Reversal Pattern Could Be Good For Chinese Stocks!

The hard hit Chinese Hang Seng Index tested a big support level this month.

Is this key Chinese stock market index ready to stage a rally here?

Let’s take a look at today’s 2-pack of charts to see why the Hang Seng Index (and perhaps select emerging markets) could be primed for a rally.

Hang Seng Monthly Chart

Looking at the chart below, the Hang Seng this month is testing triple support at point (2). As well, it looks to be creating a large bullish reversal pattern.

Good news for bulls if this support continues to hold…

hang seng stock market index china bullish reversal higher chart_august rally

Global Market Performance Chart

As you can see, Chinese stocks have been very hot of late.

global stocks performance china strong vs emerging developed markets_month august year 2018

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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