Forex

China Stocks Are Finally RecoveringApr 25, 2024

We already talked about China stocks at the beginning of 2024, where we mentioned and highlighted strong support on Chinese stock market index Hang Seng with ticker HSI. CLICK HERE

It took some time, but China stocks are now nicely recovering and we can see HSI Hang Seng Index waking up from strong support after potentially completed complex W-X-Y corrective decline within higher degree wave (B) as shared at the beginning of 2024. With current rise back above important channel resistance line, seems like it’s getting ready for a rally within higher degree wave (C), which may also have an impact on stocks across the globe.

China Stocks Are Finally Recovering HSI Daily Chart
HSI Daily Chart

We can also see Aussie (AUDUSD) bouncing sharply and strongly from the support and important trendline, which can be an indication for a bigger recovery along with Chinese stocks.

China Stocks Are Finally Recovering AUDUSD Daily Chart
AUDUSD Daily Chart

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