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Shanghai index recently hit a 6-year support line and two other support lines at (1) in the chart above. This index has now bounced off of support and has broken out of its falling channel resistance line at (2).
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Over the past 30 days the China ETF (FXI) is reflecting a ton of relative strength, as FXI has out performed the 500 index by 7% in 30 days!
Without a doubt, the world could sure use and needs some positive growth signs to come from China!!!
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