CHINA: ‘’Sweeps” the commodity market after the Oil, metals, and food prices plungeDec 1, 2022

China sweeps the commodity market, but from Elliott wave perspective we see China stocks trading at strong support area.

Ipek Ozkardeskaya, an analyst at Swisspuote Bank emphasizes that the economy will possibly suffer more either because of the endless and meaningless containment measures or because of the health crisis. The international commodity market is reeling, while China is plagued by massive protests against lockdowns and the “zero tolerance” policy against Covid-19. A situation that threatens the economic activity of the country (No.2 economy worldwide) and sinks the demand for energy, food, and raw materials.

China50 Elliott Wave Analysis

CHINA: ‘’Sweeps" the commodity market after the Oil, metals, and food prices plunge Daily Chart
CHINA A50 Daily Chart

From the Elliot Wave perspective, the CHINA A50 Index can be finishing a complex (W)-(X)-(Y) corrective decline from the highs, but to confirm support in place and bulls back in the game, we have to see broken channel resistance line and 14500 first bullish evidence level.

by Stavros Chanidis

Corrective Rally On Crude Oil Can Cause Resistance On USDCAD. Check the article HERE


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.