Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section the China SSE Composite Index.
CHINA SSE COMPOSITE INDEX (.SSEC)
The chart below shows the China SSE Composite Index (larger universe for China equities). Following the strong rally during June-July period the index entered into a sideways consolidation. The Chinese benchmark is now at an important inflection point. If the support at 3,190 levels holds, given the price testing the uptrend line and holding above the 200-day average, we can expect a rebound and strong quarter for Chinese equities. Last 3 month’s price action can form a well-defined rectangle chart pattern. After a long holiday, China equities start trading on the 9th of October.
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