CHINA: LONG-TERM SUPPORT BECOMES RESISTANCE

A Long-term Symmetrical Triangle has influenced Chinese stock prices for decades. Breakouts have shown predictable price moves. We are now seeing the first Breakdown.
- 10-Year Support became Resistance earlier this year.
- A lower, parallel, 5-Year Support has broken down and looks to become Resistance as well.
If this downtrend continues, new all-time lows are probable.