With no Fed support and 1 tweet from Trump, $HSI has finally broken down from the pennant formation which is situated in the middle of a long-term channel pattern. With the breakdown, $HSI should be revisiting the lower boundary of the long-term channel at 19.8k over the medium term.
The Chinese will not bend over backwards to strike a deal with Trump whom they do not trust. Think opium wars and the ABCD encirclement of Japan pre-WW II. In Xi's mind, this is destiny calling, China's turn to stop the cycle of foreign oppression, the reason why he is President for life. Contrast that to Trump's transaction approach and cavalier attitude to tariffs.
When 941, 939, 3988 etc are breaking down from long-term support levels, it is time to get out dodge.
The Chinese will not bend over backwards to strike a deal with Trump whom they do not trust. Think opium wars and the ABCD encirclement of Japan pre-WW II. In Xi's mind, this is destiny calling, China's turn to stop the cycle of foreign oppression, the reason why he is President for life. Contrast that to Trump's transaction approach and cavalier attitude to tariffs.
When 941, 939, 3988 etc are breaking down from long-term support levels, it is time to get out dodge.